Oil & Natural Gas Corporation Ltd.'s profit growth is expected to hit a 14-year high in the ongoing financial year due to a rise in product prices since January.
An estimate of 10 analysts compiled by Bloomberg suggests that India's largest oil and gas producer may report a net profit of Rs 27,406 crore in FY19—an increase of 37 percent compared with last year.
Brent crude—the Asian benchmark—has averaged 23 percent higher, while gas prices have risen 20 percent so far this year. This coupled with a marginal growth in production is expected to boost ONGC's net profit growth.
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