ONGC turnover reaches Rs 684829 cr


Mumbai, May 29 (UNI) ONGC’s consolidated turnover stood at Rs 6,84,829 crore in FY23, compared to Rs 5,31,793 crore in FY22.

On a standalone basis, the oil and gas explorer reported a net loss of Rs 247 crore in the fourth quarter, compared to a net profit of Rs 8,859.5 crore in the same period last year.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) during Q4FY23 came in at Rs 20,996.73 crore, down 14.57 per cent year-on-year, over higher cost of material consumed.

During the quarter and year ended March 31, 2023, the company has provided Rs. 12,107 crore towards disputed taxes of ST/GST on royalty for the period from April 1, 2016, to March 31, 2023, together with interest.

ONGC has declared eight discoveries, five on land and three offshore during fiscal 2022-23, in its operated acreages. Out of these, three (two of which are in on land and one in offshore) are prospects, while the other five (three of which are in on land and two in offshore) are pools.

Out of the eight discoveries notified during FY23, three discoveries including, Mandapeta-60, Kesanapalli West Deep-7 and Hatipoti-1 were monetized by ONGC during the year itself, a release issued here stated on Monday.



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