ONGC net profit up 6%, announces bonus share

Oil and Natural Gas Corp, India’s largest explorer reported 6.3 per cent rise in its second quarter net profit on the back of lower write-offs, even as it announced a bonus share to increase liquidity ahead of government disinvestment. Net profit of Rs 4,974.92 crore in the July-September quarter of the current fiscal was higher than Rs 4,681.39 crore earning in the same period a year ago, told ONGC chairman and managing director Dinesh K Sarraf.