Vedanta Resources News
ONGC Q3 profit falls 5 pct, subsidy costs weigh
State-run Oil & Natural Gas Corp posted a 5 percent drop in quarterly net profit, falling short of market expectations, as a sharp rise in provisions for subsidy payments offset higher selling prices for oil and gas. The profit would have been lower but for royalty payments of 31.42 billion rupees from Cairn India Ltd that began in the quarter. ONGC has a 30 percent holding in an oil and gas block
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