Oil & Natural Gas Corporation (ONGC) announced a sharp drop in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company declined 11.07% to Rs 48.42 billion from Rs 54.45 billion in the same quarter previous year.

Revenues for the quarter rose marginally 0.04% to Rs 218.17 billion, compared with Rs 218.09 billion for the prior year period.

Operating margin for the quarter stood at 40.22 percent as compared to 41.86 percent for the previous year period. Operating Income for the quarter was Rs 87.75 billion compared with Rs 91.29 billion in the previous year period.

Earnings per share stood at Rs 5.66 compared with Rs 6.38 in the same quarter last year.

The company has declared an interim dividend of Rs 4.50 per share, amounting to Rs 38.50 billion for the quarter.

Shares of the company gained Rs 0.8, or 0.32%, to settle at Rs 251.90. The total volume of shares traded was 332,518 at the BSE (Friday).