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ONGC Q3 profit drops 17% on lower oil prices; standalone oil & gas production up

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Oil and Natural Gas Corp (ONGC) has reported a 17% decline in third-quarter profit on a drop in oil prices and higher depreciation.

Profit for the October-December quarter fell to Rs 8,240 crore from Rs 9,892 crore in the year-earlier period. Revenues declined 3.1% to Rs 33,717 crore from Rs…

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