Operating income rose to Rs 34,497.24 crore in the fourth quarter of FY21-22 from Rs 21,188.91 crore in January-March 2021. ONGC’s net profit rose to Rs.
International energy prices have risen since late 2021, following a Russian invasion of Ukraine in February. ONGC receives the international price for the crude oil it produces. So it benefited from the rise in energy prices. At ONGC international prices, fuel retailers also receive the prices of petrol, diesel and other petroleum products at global prices.
The combined net profit of its subsidiaries such as HPCL and ONGC Videsh Ltd rose to Rs 12,061.44 crore in the March quarter and Rs 49,294.06 crore for the full financial year 2021-22. It was Rs 10,963.04 crore in January-March 2021 and Rs 21,360.25 crore in 2020-21.
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