New Delhi– State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday reported a 6 per cent rise in net profit for the second quarter ended September at Rs 4,975 crore, as compared to Rs 4,681.4 crore for the quarter ended September 30, 2015.
Amid the fluctuation in global oil prices, however, total income for the quarter in question decreased 10 per cent to Rs 19,578.6 crore from Rs 21,698.5 crore in the same quarter of the last fiscal, the company said in a statement here.
The company approved interim dividend of Rs 4.50 per equity share of Rs 5 each, for the financial year 2016-17. It has also recommended the issue of bonus shares in the ratio of 1:2.
“The board has recommended the issue of bonus shares in the proportion of 1 new equity share of Rs 5 each for every 2 existing equity shares of Rs 5 each fully paid up of the company, subject to the approval of the shareholders,” ONGC said in a statement.
ONGC stock closed on Thursday at Rs 290.55 a share, up 0.40 points, or 0.14 per cent, over its previous close on the BSE.