By IANS
New Delhi : State-owned petroleum major Oil and Natural Gas Corp’s (ONGC) net profit in the third quarter (Oct-Dec) of fiscal 2007-08 has declined by Rs.3 billion ($76 million) to Rs.43.7 billion ($1.1 billion) compared to the corresponding period the previous year, the company said Monday.
On a year-on-year basis, the company’s total income in the same quarter was Rs.2.8 billion lower.
“The company has posted a net profit of Rs.43.66 billion for the quarter ended Dec 31, 2007 as compared to Rs.46.68 billion for the quarter ended Dec 31, 2006,” said ONGC, while announcing its quarterly financial results.
“The total income has decreased from Rs.162.69 billion for the quarter ended Dec 31, 2006 to Rs.159.83 billion for the quarter ended Dec 31, 2007,” it said.