Oil & Natural Gas Corporation (ONGC), the national oil company of India, disclosed a drop in standalone net profit for the quarter ended December 2014. During the quarter, the profit of the company declined 49.88% to Rs 35,712 million from Rs 71,259.70 million in the same quarter last year.
Net sales for the quarter declined 13.66% to Rs 203,020.20 million, compared with Rs 235,145.70 million for the prior year period.
Shares of the company gained Rs 0.65, or 0.19%, to trade at Rs 340.55. The total volume of shares traded was 177,152 at the BSE (11.30 a.m., Monday).