Oil & Natural Gas Corporation’s (ONGC) Rajahmundry asset has started gas supply under direct marketing from its isolated fields under the guidelines of the Union Ministry of Petroleum and Natural Gas (MoP&NG). ONGC has received the mandate from MOP&NG, to market gas supply from small and isolated fields away from gas grid.
The company has reported 17.48% fall in its net profit at Rs 5562.72 crore for the quarter as compared to Rs 6741.41 crore for the same quarter in the previous year. However, total income from operation of the company has increased by 14.88% at Rs 22374.38 crore for quarter under review as compared to Rs 19475.30 crore for the quarter ended December 31, 2011.