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ONGC Q4 Results foretell a slippery future

ONGC chose to quietly declare Q4 results sharing details with only a few media houses. The reason of this almost silent disclosure to cosy media houses is not difficult to find. After all a shameful performance cannot be widely published or be a reason for celebration.

The ONGC’s Q4 financial results have registered a decline of 53 percent. ONGC’s profit at the end of this period stood at Rs.5701 Crore. While the profit of ONGC last year was Rs 12061 crore. As we already shared with our readers that ONGC’s business is getting adversely impacted by many causes including the management style of the current chief. One statement from the head of ONGC that seasoned leaders should make way for youngsters has done incalculable damage to the morale of it’s employees and the Q4 Results are but a reflection. After the release of ONGC result, whatever we have been conveying has been proved to be absolutely true. It’s sad that an illustrious organization like ONGC is being systematically damaged.

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