ONGC shares gain over 4 per cent after Q2 earnings

New Delhi: Shares of Oil and Natural Gas Corp (ONGC) on Monday rose by over 4 per cent after the company reported a 3.1 per cent rise in second quarter net profit. The stock gained 4.14 per cent to Rs 191.15 on BSE.

At NSE, shares of the company rose 3.99 per cent to Rs 191.35. In terms of equity volume, 7.73 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade.

State-owned ONGC on Saturday reported a 3.1 per cent rise in second quarter net profit as impressive gain from rising oil prices were taken away by fall in government-mandated natural gas rates.

Net profit of Rs 5,131 crore in July-September was 3.1 per cent higher than Rs 4,975 crore in the same period last year, the company said in a press statement. Revenue was up 3.1 per cent at Rs 18,966 crore.