The state-run petroleum giant’s revenue from operations during the first quarter of current fiscal stood at ₹1,63,823 crore, registering a decline of 10 per cent, compared to ₹1,82,894 crore in the year-ago period.

The crude oil output of the oil marketing company (OMC) declined 3.3 per cent to 5.311 million metric tonnes (MMT), compared to 5.495 MMT in year-ago period. Similarly, gas output was 3 percent lower in the quarter compared to last year.

‘’The company had issued four series of non-convertible debentures (NCDs) aggregating to ₹4,140 crore during FY 2020-21 for which funds were fully utilized for the intended purpose during the same year,” said ONGC in a regulatory filing to the stock exchanges.

‘’Statements of “NIL” deviation were also filed on 13.11.2020 and 24.06.2021.Accordingly, submission of Statements of utilisation/ deviation in the use of proceeds of NCDs under Regulation 52(7) and 52(7A) of SEBI Listing Regulations is not applicable,” it added.

Ahead of the announcement of results, shares of ONGC settled 0.81 per cent lower at ₹177.15 apiece on the BSE on Friday.

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Updated: 11 Aug 2023, 09:19 PM IST