State-owned upstream company ONGC's Q4 FY13 sales were up 13.1 per cent at Rs 21,460 crore while its turnover in 2012-13 fiscal rose by 8.4 per cent to Rs 82,552 crore.
Speaking to media persons after the company's board meeting which reviewed its annual performance for FY13, Chairman and Managing Director Sudhir Vasudeva said that out of the total 22 discoveries during the fiscal, there were 12 new prospects and 10 new pools.
He added that ONGC's ultimate reserve accretion of 84.84 million tonnes from domestic acreages was the highest in the last 22 years.
Its overseas arm ONGC Videsh ltd (OVl) earned the highest ever profit of Rs 3,929 crore during FY13, an increase of 44.4 per cent compared to the corresponding period.
Net worth of OVl increased from Rs 19,941 crore to Rs 29,184 crore due to the increase in equity share capital of ONGC from Rs 1,000 crore to Rs 5,000 crore.
On the flipside though, for the fiscal, net profit was down 16.7 per cent to Rs 20,926 crore on record subsidy payout. ONGC paid Rs 49,421 crore in 2012-13, up from Rs 44,466 crore in the previous year. But for this record subsidy outgo, net profit should have risen by Rs 28,413 crore, Vasudeva said.
At the same time the Chairman informed that ONGC plans to invest Rs 35,049 crore in 2013-14 up from Rs 29,503 crore in the previous fiscal.