Oil and Natural Gas Corp, India`s top explorer, said on Thursday first-quarter standalone profit fell 8 percent, below analysts` expectations.
Standalone profit from ONGC`s operations in India was 38.85 billion rupees ($606.01 million) for the three months ended June 30, down from 42.33 billion rupees a year earlier, the company said. http://bit.ly/2uFkBPd
Analysts on average expected ONGC to post a standalone profit of 43.25 billion rupees, Thomson Reuters data showed.
Revenue from the company`s offshore operations rose 4.2 percent to 130.68 billion rupees in the quarter. ($1 = 64.1075 Indian rupees)
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