ONGC's Profit unexpectedly declines on Higher Subsidy Burden
31.05.2011
Oil & Natural Gas Corp., India's biggest energy explorer, unexpectedly posted a drop in fourth- quarter profit after the government ordered it to pay more to refiners including Indian Oil Corp. to cap fuel prices.
Net income in the three months ended March 31 fell 26 percent to 27.9 billion rupees...
