ONGC standalone loss at Rs 248 cr in This autumn FY23, pronounces 225% dividend


Via Manish Gupta

State-owned Oil and Herbal Fuel Company (ONGC) on Friday reported a standalone internet lack of Rs 248 crore in This autumn FY23, towards a internet benefit of Rs 8,860 crore within the year-ago quarter because of an exception provision of Rs 12,107 crore against disputed taxes.

The company recorded 5.2% hike in its gross income to Rs 36,293 crore within the quarter finishing March 2023 as towards Rs 34,497 crore within the This autumn FY22, as in line with the corporate monetary effects filed in an change.

For complete 12 months FY23, the web benefit fell 3.7% to Rs 38,829 crore and the gross income shot up 40.9% to Rs 1,55,517 crore.

ONGC declared best ever general dividend of 225% for FY23 (Rs 11.25 in line with percentage of face price Rs 5 every) with a complete payout of Rs 14,153 crore. This comprises meantime dividend of 215% (Rs 10.75 in line with percentage) already paid all through the 12 months and ultimate dividend of 10% (Rs 0.50 in line with percentage).

The corporate has supplied Rs 12,107 crore against disputed taxes of carrier tax/GST on royalty for the duration from April 1, 2016 to March 31, 2023 in conjunction with hobby thereon, it mentioned in a observation.

ONGC has reviewed all the factor of disputed carrier tax and GST on royalty and has made up our minds to make a provision “as a prudent and conservative observe”.

“Then again, the corporate shall proceed to contest such disputed issues prior to quite a lot of boards in response to the felony opinion,” it



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