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in Economy

ONGC posts Rs 248-crore loss in Q4 on tax provisions; profit down 3.7%

by Editor May 27, 2023, 1:44 pm 999 Views

Business Standard

India’s top oil and gas producer ONGC posted a surprise loss in the March quarter after it made over Rs 12,100 crore provision for a contested tax liability.

Oil and Natural Gas Corporation (ONGC) reported a net loss of Rs 247.70 crore in the January-March quarter as compared to a net profit of Rs 8,859.54 crore a year back, according to a company statement.

Service tax department at various work centres had raised a demand for…

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Restless Shadow Ministers Want Keir Starmer To Shake Up Labour's Top Team

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