ONGC - Q3FY13 Results First Cut - Microsec

Oil & Natural Gas Corporation has announced its Q3 results on February 11, 2013.

ONGC reported a topline growth of 16% on YoY basis which came at around INR21093.21cr however it's PAT came at INR5562.72cr which is dragged by~17% on YoY basis. Higher cess (i.e. from INR2500/mt toINR4500/mt) coupled with higher under recovery and subsidy sharing burden lead to the decline in its net profit. Moreover rise in depreciation and amortisation expenses also been a dragger in the bottomline.

The BoD had declared an interim dividend of INR5.00per share (100%) amounting to INR4278crore in its meeting held on December 21, 2012 which has since been paid.

Source : Equity Bulls

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