ONGC Second-Quarter Profit Jumps 57 Per Cent
State-run ONGC reported a 57% jump in net profit for the quarter, helped by higher crude and gas realisations. Realisations are the prices the company actually receives for its oil and gas. The company also declared an interim dividend of ₹8 per equity share.
Context
Context: ONGC is one of India's largest oil and gas producers. Realisation means the price a company actually receives, so when global crude and gas prices rise, its earnings usually follow.
Burning Potato score: 54%