This company made so much profit, the government earned 5000 crores, know how

In the past, a government company made tremendous earnings, due to which its profits also improved. Although it was less than its previous profits, but the government got a separate profit of Rs 5001 crore. Let’s tell how…

The government got Rs 5,001 crore as dividend.

Image Credit source: File Photo

Many companies work in different sectors of the Government of India. If this company earns huge profits, then the government also benefits from it. One of these companies, ONGC i.e. Oil and Natural Gas Corp, has made tremendous earnings this year.

Government got dividend of 5001 crores

According to PTI news, this year the Government of India has received Rs 5,001 crore as dividend from Oil and Natural Gas Corporation (ONGC). On the other hand, if the dividend received from other government companies is also added, then till now the Government of India has received a total dividend of Rs 23,797 crore.

Tuhin Kant Pandey, secretary of the Government’s Department of Investment and Public Asset Management (DIPAM), gave this information by tweeting. He wrote, ‘The government has received about Rs 5,001 crore as dividend from ONGC.’

Government companies (CPSEs) working under various ministries of the central government were asked by DIPAM to adopt a balanced dividend policy in the year 2020. On the basis of this, now government companies give dividends.

ONGC made a profit of more than 12,000 crores

ONGC recently announced its July-September quarter results. Then the company had told that it has made a total net profit of Rs 12,825.99 crore. However, a comparison with the results of the same quarter of the last year i.e. 2021-22 shows that its profit has decreased.

Then the company had a profit of Rs 18,347.73 crore. ONGC mainly deals with the exploration of oil and natural gas wells. The company had earned good earnings in the first quarter of the current financial year i.e. April-June as well. Then the net profit of the company was Rs 15,205.85 crore.

ONGC, which once looked only at exploration work, now also works in fuel retail business. Actually, the government had sold its entire 51.11 percent stake in Hindustan Petroleum to ONGC under a special plan, thus the company now retails fuel as well.

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English Headline : Center receives Rs. 5,001 crore as dividend from ONGC, totaling Rs. 23,797 crore from CPSEs, DIPAM sec says in a tweet.



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