Oil and Natural Gas Corporation has reported a net after-tax loss of INR2.85 billion for the third quarter ended December 31, 2008, compared to a net profit of INR3.47 billion for the same period of 2007.
Oil and Natural Gas Corporation (ONGC) has reported throughput of 3.11 million metric tons (mmt) for the third quarter ended December 31, 2008, compared to 3.02mmt for the corresponding quarter of 2007.
The company has reported revenue of INR85.58 billion for the third quarter ended December 31, 2008, an 8% decrease compared to INR92.69 billion for the same period of 2007.
Year-to-date net profit after tax was INR5.85 billion, compared to a net profit after tax of INR10.47 billion for the same period of 2007. Year-to-date throughput was 9.17mmt, compared to 9.4mmt for the same period of 2007.
ONGC said that turnover during the quarter was Rs. 8,558 crore down 8% as compared to Rs. 9,269 crore during the corresponding previous quarter. The Net Loss after tax for the quarter was Rs. 285 Crore as compared to a net profit of Rs 347 crore for the corresponding previous quarter, after providing for interest and finance charges of Rs. 36 crore (Rs.36 core), depreciation of Rs. 96 crore (Rs.95 crore) and reversing of tax provision of Rs. 149 crore made in earlier quarters due to Loss in current quarter (against tax provision of Rs. 101 crore in corresponding previous period).
Year-to-date revenue was INR350.89 billion, a 32% increase compared to INR265.27 billion for the same period of 2007, said the company.