Oil and Natural Gas Corporation (ONGC) net profit of Rs 3,776 crore, an increase of 71 per cent for the fourth quarter due to better realisation on crude.
For 2009-10, its net profit increased by 4 per cent at Rs 16,768 crore.
ONGC chairman and managing director, Mr R. S. Sharma, said that the subsidy payout by the company for the fourth quarter was Rs 4,999 crore and for the year it was Rs 11,554 crore. He said that the recent decision of the cabinet to increase the price of APM gas will be positive for the company, impacting revenue by over Rs 5,500 crore.