Oil and Natural Gas Corporation
Oil and Natural Gas Corporation is a government owned crude oil and natural gas corporation. Its registered office is in New Delhi. ONGC was founded on 14 August 1956 by Government of India. ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services. This public sector enterprise has a dedicated team of around 28,500 professionals who toil round the clock in challenging locations. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India and owns and operates over 11,000 kilometres of pipelines in the country. Its international subsidiary ONGC Videsh currently has projects in 17 countries.Crude oil and natural gas production by the Company, including its share in Joint Ventures during FY20 was 48.25 MMTOE which is about 3.6 per cent less than the production during FY19.As a responsible corporate citizen, ONGC has contributed Rs 300 Crore to PM Cares Fund. ONGC executed CSR projects worth Rs 20 Crore benefitting more than 26 Lakh fellow countrymen through distribution of food/ masks/PPE kits/sanitizers and funding of ventilators in hospitals. Company has also spent Rs 607 Crore in CSR Activities in FY20 in field of education and Clean India.Their shareholding pattern include Promoters having 60.41% shares, FIIs having 8.08% shares, DIIs having 17.48% shares and Public having 14.03%.For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 118206.16 Crore, up 15.41% from last quarter Total Income of Rs 102416.84 Crore and up 9.4% from last year same quarter Total Income of Rs 108004.16 Crore. Company has reported net profit after tax of Rs 10946.23 Crore in latest quarter. The Board of Directors have recommended a dividend of ₹1.85 per equity share for the FY 2020- 21.The result of ONGC is competent.
