Moody affirms Baa1 rating for ONGC with stable outlook

1 min


Higher crude oil realisation led to better earnings in FY19 for ONGC. The company’s net profit in FY19 jumped 34% to Rs 26,716 crore. The net realisation improved 24% to $68.19 per barrel in FY19 compared with $55.19 per barrel in FY18.
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