ONGC Q4 results 2020: First quarterly standalone net loss of Rs 3,098.26 crore reported
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Oil & Natural Gas Corporation (ONGC) reported a standalone net loss of Rs 3,098.26 crore for the quarter ended March 31 due to exceptional item towards impairment loss of Rs 4,899 crore. This was the first ever quarterly loss reported by the company. It had posted a net profit of Rs 4,000 crore in the corresponding quarter last year.This has come out as a big shocker in the market despite the company being under pressure amid the lockdown. The company has taken an impairment adjustment of Rs 5000 crore in Q4 FY20 to factor into estimated future crude oil and natural gas prices. Had it not been the impairment adjustment, the company would have delivered profits this year too. Listen to know more details. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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