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ONGC released its Q4 report yesterday, which saw a 37% rise in profits, amounting to Rs 5,915 cr. This is notably the highest profit earned by the state-owned oil giant in 17 quarters. Although ONGC's oil production declined by 3 percent at 6.2 million tonnes in the quarter, the turnover in the fourth quarter rose by 65 percent to Rs 27,703.54 crore, due to high fuel prices.
