Mumbai, May 29 (FN Agency) ONGC reported on Monday a consolidated turnover of Rs 6,84,829 crore in the financial year ended 31 March 2023, as compared to Rs 5,31,793 crore during the corresponding period of last fiscal year. On a standalone basis, the oil and gas explorer reported a net loss of Rs 247 crore in the fourth quarter of this year, as against a net profit of Rs 8,859.5 crore in the year ago period, a press release stated here. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) during Q4 FY23 were at Rs 20,996.73 crore, down by 14.57 per cent year-on-year, over higher cost of materials consumed.
During the quarter and year ended 31 March 2023, the company has provided Rs 12,107 crore towards disputed taxes of ST / GST on royalty for the period from 1 April 2016 to 31 March 2023 together with interest. ONGC has declared a total of eight discoveries — five in onland and three offshore — during fiscal 2022-23, in its operated acreages. Out of these, three (two of which are in onland and one in offshore) are prospects, while the other five (three of which are in onland and two in offshore) are pools. Out of the eight discoveries notified during FY23, three discoveries including Mandapeta-60, Kesanapalli West Deep-7 and Hatipoti-1 were monetised by ONGC during the year itself, the release added.