ONGC Profit More Than Doubles as Oil Prices Surge
India’s Oil and Natural Gas Corporation more than doubled its quarterly profit as higher crude and natural gas prices—and a weaker rupee—more than made up for another drop in production. ONGC reported net income of 170.34 billion rupees, or about $1.8 billion, for the quarter ended June, beating the 152.67 billion-rupee average estimate compiled by Bloomberg. Revenue jumped 45% from a year…
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