Lok Sabha Question No. 4743 (UNSTARRED), answered on 2020-03-23
Subject: ONGC Profits
Ministry: PETROLEUM AND NATURAL GAS
Asked by: Lavu Sri Krishna Devarayalu

## LOK SABHA UNSTARRED QUESTION NO. 4743 TO BE ANSWERED ON 23 rd  March, 2020 ONGC Profits

## 4743. SHRI LAVU SRI KRISHNA DEVARAYALU :

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## Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

- (a) the ONGC profits in each quarter between 2016 and 2019;
- (b) whether the ONGC reported a decline in December quarter in 2019, if so, the reasons for the same; and
- (c) whether the ONGC has taken any loans or purchased Non-Performing Assets (NPAs), if so, the details thereof?

## ANSWER

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## MINISTER IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI DHARMENDRA PRADHAN)

- (a)  &  (b):  Quarter  wise  Profit  After  Tax  (PAT)  of  ONGC  between  2016  and  2019  is  at Annexure-I. Decline in PAT in third quarter of 2019-20 is primarily due to decrease in price of crude oil.
- (c):  ONGC  has  taken  loan  of  Rs.  24,881  crore  to  part  finance  strategic  acquisition  of Hindustan  Petroleum  Corporation  Limited.  The  outstanding  loan  as  on  29.02.2020  was Rs.12,105 crore. ONGC acquires assets at exploration, development or production stages based on the present status and its future potential. Performance of the asset depends on the vintage of the asset, geology, production and prices of the crude oil and gas.

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## Annexure to be referred in reply of Lok Sabha Unstarred Question No. 4743 to be answered on 23.03.2020

|   S. No. | Quarter   | Financial Year (FY)   | Profit After Tax (PAT) (Rupees in Crore)   |
|----------|-----------|-----------------------|--------------------------------------------|
|        1 | Q4        | 2015-16               | 4,416                                      |
|        2 | Q1        | 2016-17               | 4,233                                      |
|        3 | Q2        | 2016-17               | 4,975                                      |
|        4 | Q3        | 2016-17               | 4,352                                      |
|        5 | Q4        | 2016-17               | 4,340                                      |
|        6 | Q1        | 2017-18               | 3,885                                      |
|        7 | Q2        | 2017-18               | 5,131                                      |
|        8 | Q3        | 2017-18               | 5,015                                      |
|        9 | Q4        | 2017-18               | 5,915                                      |
|       10 | Q1        | 2018-19               | 6,144                                      |
|       11 | Q2        | 2018-19               | 8,265                                      |
|       12 | Q3        | 2018-19               | 8,263                                      |
|       13 | Q4        | 2018-19               | 4,045                                      |
|       14 | Q1        | 2019-20               | 5,904                                      |
|       15 | Q2        | 2019-20               | 6,263                                      |
|       16 | Q3        | 2019-20               | 4,152                                      |