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India’s state-owned ONGC has reported a 58% hike in net profit from Q1 earnings. The net profit of the company jumped to Rs 6,144 crore. Though the crude oil production of the company decreased to 6.217 million tonne, revenues and profits of explorer climbed up. Price realization from gas also improved from $2.48 per mmbtu to $3.06 per mmbtu in the recent quarter.
