ONGC Profit Beats Estimates After Selling Oil at Higher Prices

Bloomberg reported that Oil & Natural Gas Corp.(NSE:ONGC) announced a 60 percent raise in the second quarter profit.

As quoted in the market news:

Net income in the three months ended Sept. 30 was 86.4 billion rupees ($1.8 billion), or 10.10 rupees a share, compared with 53.9 billion rupees, or 6.30 rupees, a year earlier, the state-owned company said in a statement yesterday.

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