ONGC Says Q1 Net Hit by Write-offs, Subsidy Payment
PUBLISHED ON: August 14, 2014 | Duration: 15 min, 18 sec
Aloke Kumar Banerjee, director of finance at ONGC says exploration-related write-offs more-than-doubled to Rs 3,828 crore in the June quarter, hurting profits. Heavy subsidies on crude sales to state-run refiners also impacted profits, he added.
