constantly looking at ways of improving services. We had deliberated upon having such chopper services only last year. We hope to procure the chopper at the earliest after the interest has been floated,” a senior ONGC official said.
Meanwhile, the PSU on February 16 reported 15 percent rise in the December quarter net profit on higher prices. The net profit in the October-December quarter of the current fiscal, at Rs5,014.67 crore, was higher than Rs4,352.33 crore in the same period a year ago, the company said in a regulatory filing.
ONGC’s total income rose 15.4 percent to Rs24,122.42 crore during the third quarter of 2017-18.
Revenues from operation rose 14.9 percent on a YoY basis to Rs 22,995 crore for the quarter ended December. ONGC reported revenue from the operation of Rs 20,013 crore in the corresponding quarter of last fiscal, and Rs 18,964 crore in the previous quarter.
Earnings before interest, tax, depreciation, and amortisation rose 19.5 percent on a sequential basis to Rs10,919 crore for the quarter ended December 2017, compared to Rs9,136 crore reported in the previous quarter. EBITDA margin contracted marginally to 47.5 percent for the quarter ended December compared to 48.2 percent reported in the previous quarter.
ONGC has off-shore operations in the western region of Mumbai and the eastern section of Rajahmundry in Andhra Pradesh. It has to rely on the aircraft provided by chopper companies to provide medical aid. “If we have our own dedicated chopper, we would not have to rely on other aircraft operators. The heli-ambulance would be at our beck and call. For each medical emergency of our employees working off-shore, the ambulance would be available,” the ONGC official added. On January 13, five senior officials of the ONGC and two Pawan Hans pilots died after the chopper they were in crashed. Senior ONGC officials said one member from the families of the victims has been offered a job in ONGC.
“We will provide the best care to each of the employees and their families to the maximum possible extent,” an ONGC official said. The ONGC Residents Welfare Association in Bandra has arranged for a counselling session in Bandra. “The session will aim to motivate the families of the victims. It was an unfortunate incident and we are trying our best to help them recover at the earliest,” a senior ONGC official added. The ONGC has appointed an aviation safety consultant to conduct a technical audit of the aircraft equipment of their operators. A report is expected soon.