ONGC jumps 3% on strong December quarter earnings

ONGC posted a net profit of Rs 8,263 crore for the third quarter, a jump of almost 65 percent from the same quarter last year.

Shares of Oil and Natural Gas Corporation (ONGC) jumped as much as 5.5 percent in early trade after the company reported strong results for the quarter ended December 31, 2018.

The stock trimmed some gains later in the trade though.

The company reported a net profit of Rs 8,263 crore for the third quarter, a jump of almost 65 percent from the same quarter last year.

ONGC’s Q3 gross revenue rose 20.4 percent YoY to Rs 27,694 crore.

The board also approved an interim dividend of Rs 5.5 per equity share.At 09:19 hours, Oil and Natural Gas Corporation was quoting at Rs 137.05 on the BSE, up 3.75 percent.

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