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ONGC Fiscal 2009 Net Profit Down 3%

EBR Staff Writer Published 25 June 2009

Oil and Natural Gas Corporation Limited (ONGC) has reported sales revenue of INR639.5 billion for the fiscal 2009, up 6%, compared with the sales revenue of INR601.4 billion in the previous year. It also reported a net profit of INR161.3 billion for the fiscal 2009, down 3%, compared with the net profit of INR167.02 billion in the previous year.

Annual fiscal year 2009:

-- The compounded annual growth rate (CAGR) in sales revenue in last five years is 14.49%

-- Excluding trading 64% of the turnover derived from sale of crude oil, 13% from sale of Natural Gas, 14% from sale of value-added-products (VAPs) viz. liquefied petroleum gas, Naptha etc. 9%

-- The CAGR in net profit in last five years is 13.23%

-- ONGC continues to be a zero debt company.

Highlights of fourth quarter of fiscal year 2009 results:

-- Crude oil production of 6.48 MMT (6.95 MMT in the same period in fiscal year 2008) including joint ventures (JVs) 0.45 MMT (0.50 MMT)

-- Natural gas production 6.16 billion cubic meters (BCM) [6.14 BCM] including JVs 0.66 BCM (0.79 BCM)

-- Sales turnover INR138.15 billion (down 12% from INR157.3 billion in fourth quarter of fiscal year 2008)

-- Net Profit INR22.07 billion (down 16% from INR26.3 billion).

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