Original Delhi: On the relief of the absolute most practical-ever impress it earned on crude oil it produces, say-owned Oil and Pure Gasoline Corporation (ONGC) reported a file web revenue of Rs 40,305 crore in the fiscal year ended March 31, becoming India’s 2nd most winning firm in the relief of Reliance Industries Ltd.
In a train, ONGC mentioned web revenue for the fiscal FY22 (April 2021 to March 2022) soared 258 per cent to Rs 40,305.74 crore from Rs 11,246.44 crore in the outdated financial year.
This as it obtained a median of USD 76.62 for every barrel of crude oil produced and equipped in the fiscal as towards USD 42.78 per barrel web realisation in the outdated year.
Right here’s the absolute most practical ever impress that ONGC obtained as worldwide oil prices surged from unhurried 2021 and spiked to a come 14-year excessive of USD 139 per barrel after Russia invaded Ukraine. Worldwide charges had spiked to a file USD 147 per barrel in 2008 but ONGC’s web realisation at that time turn into as soon as famous lower as it needed to give subsidies to gasoline outlets so that they would per chance well per chance promote petrol, diesel, cooking fuel LPG and kerosene at charges lower than rate.
ONGC now will get worldwide charges as the downstream gasoline outlets too impress petrol, diesel and diversified petroleum products at world charges.
The agency obtained USD 2.35 per million British thermal unit for the fuel it equipped as towards USD 2.09 in the outdated FY21 fiscal. The fuel impress jumped to USD 6.1 in April this year and this influence will seemingly be visible in the key-quarter earnings.
Consolidated web revenue, after including those earned by its subsidiaries fancy HPCL,PL and ONGC Videsh Ltd, soared to Rs 49,294.06 crore in 2021-22 as when compared to Rs 21,360.25 crore in 2020-21.
Each standalone and consolidated web revenue of ONGC is the 2nd-absolute most practical revenue in the nation.
Reliance had on May per chance 6 reported a consolidated web revenue of Rs 67,845 crore on a revenue of Rs 792,756 crore.
ONGC displaced Tata Steel for the No.2 place. Tata Steel on May per chance 3 reported a standalone web revenue of Rs 33,011.18 crore and a consolidated web revenue of Rs 41,749.32 crore for FY22.
At No.4 place is Tata Consultancy Companies and products Ltd (TCS) with a consolidated web revenue of Rs 38,449 crore, followed by Sigh Bank of India (SBI) which reported a web revenue of Rs 31,676 crore on May per chance 13. Its non-public sector rival HDFC Bank reported a standalone web revenue of Rs 36,961.33 crore and a consolidated web revenue of Rs 31,150.90 crore for the fiscal.
ONGC as soon as turn into as soon as India’s most winning firm but a decline in output and paying gasoline subsidies ended in its earnings declining through the years.
ONGC mentioned its standalone revenue from operations soared nearly about 62 per cent to Rs 1.10 lakh crore and consolidated turnover came in at Rs 5.31 lakh crore.
The revenue surge turn into as soon as despite a 3.7 per cent topple in crude oil production to 21.7 million tonnes in 2021-22 as about a of the agency’s western offshore fields had been hit by a severe cyclone in May per chance ideal year. Gasoline output fell 5 per cent to 21.68 billion cubic meters.
“The lower in oil/fuel production is in most cases due to the influence of cyclone Tauktae in western offshore sources and western onshore sources and modification work at Hazira (Gujarat),” the train mentioned.
ONGC mentioned its Reserve Replacement Ratio (2P) from home fields (excluding joint enterprise fields) turn into as soon as 1.01. Right here’s the 16th consecutive year when ONGC finished Reserve Replacement Ratio (2P) of higher than one.
The firm’s abroad arm, ONGC Videsh Ltd reported a 16 per cent topple in web revenue to Rs 1,589 crore in 2021-22 as crude oil and pure fuel output fell. Its crude oil production declined to 8.099 million tonnes in FY22 from 8.51 million tonnes in the outdated year. Gasoline output fell to 4.231 billion cubic meters from 4.529 bcm in FY21.
ONGC declared a final dividend of 65 per cent (Rs 3.25 per portion of face rate Rs 5 every), taking the total dividend paid in the fiscal to 210 per cent (Rs 10.50 a portion).
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