ONGC’s fourth-quarter profit increased by 78% to ₹ 11,526 crore: Income increased by 1.64% on an annual basis, company will pay dividend of ₹ 2.50 per share.

Oil and Natural Gas Corporation i.e. ONGC Limited’s profit in the fourth quarter (January-March) of FY 2024 increased by 78% on an annual basis (YoY) to ₹ 11,526 crore. The company’s consolidated net profit in the same quarter a year ago was ₹6,478 crore. The company has announced a final dividend of ₹ 2.50 per share to its investors for the financial year 2024. Companies give some part of the profits to their shareholders, it is called dividend. ONGC has released its fourth quarter and annual results today i.e. on 20th May. Income increased by 1.64% on an annual basis. Consolidated revenue from ONGC’s operations increased by 1.64% on an annual basis. Revenue from operations stood at ₹1.66 lakh crore in Q4FY24. Revenue in the same quarter a year ago i.e. fourth quarter of FY23 was ₹1.64 lakh crore. Company’s profit increased by 67% in FY 2024 ONGC’s consolidated profit increased by 67.71% to ₹ 57,100 crore in the entire FY 2024. The profit in FY 2023 was ₹34,046 crore. 6.49% decline in revenue in FY 2024 Whereas ONGC’s consolidated revenue from operations fell to ₹ 6.43 lakh crore in FY 2024. Revenue in FY 2023 was ₹6.84 lakh crore. That means there has been a decline of 6.49% in revenue. What is standalone and consolidated? The results of companies come in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in the consolidated financial report, the entire company is reported. Here, ONGC has 6 subsidiaries, 6 joint ventures and 3 associates. The financial reports of all these will be called consolidated. Whereas, the separate result of ONGC will be called standalone. ONGC’s share gave 68% return in one year. On Saturday, before the results, ONGC’s share closed 0.47% higher at ₹ 278.95. It has given 68.45% returns in the last one year. The market cap of the company is Rs 3.51 lakh crore.

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