Mumbai, May 29: India's largest oil exploration company Oil & Natural Gas Corporation Ltd's (ONGC) net profit for Jan-Mar quarter of fiscal 2011-12 doubled to at Rs 56.44 billion as compared to Rs 27.91 billion for the quarter ended March 31, 2011.
ONGC's total income has for the reporting quarter grew 21.8% on-year to Rs 203.33 billion as compared to Rs 166.93 billion in corresponding quarter last fiscal.
For the fiscal year 2011-12, ONGC's net profit grew 32.75% to Rs 251.23 billion as compared to Rs 189.24 billion for the year ended March 31, 2011. The company's total income grew 12.9% from Rs 717.45 billion in FY11 to Rs 809.95 billion in FY12.
The groups consolidated net profit after taxes, minority interest and share of profit of associates for FY12 stood at Rs 281.44 billion as compared to Rs 224.56 billion for the year ended March 31, 2011.
Consolidated revenue of the group increased from Rs 123.86 billion for the year ended March 31, 2011 to Rs 152.13 billion for the year ended March 31, 2012.
The company’s operating profit margin dropped to 46.59% at the end of March 31, 2012, where as it was at 81.82% at the end of December quarter.
Shares of ONGC closed at Rs 256.35, up 0.98% on BSE Tuesday.