The net profit of India's oil and gas company surged 57% in the second quarter. Higher crude oil and gas prices combined with depreciation of the rupee fully offset the impact of the decline in production. India's largest oil and gas exploration company submitted documents to the exchange stating that in the quarter ending September, net profit increased from 98.5 billion rupees to 154.9 billion rupees, in line with Bloomberg's summary of 154.6 billion rupees; revenue increased 32.8% to 438.8 billion rupees. This rich profit will provide capital for this state-owned exploration enterprise to help the old domestic oil fields resume production and expand the production of overseas assets. India's oil and gas company plans to invest more than 400 billion rupees in offshore projects in western India, using new technology to extract more oil and gas from reservoirs that have been developed for decades.

The net profit of India's oil and gas company surged 57% in the second quarter. Higher crude oil and gas prices combined with depreciation of the rupee fully offset the impact of the decline in production. India's largest oil and gas exploration company submitted documents to the exchange stating that in the quarter ending September, net profit increased from 98.5 billion rupees to 154.9 billion rupees, in line with Bloomberg's summary of 154.6 billion rupees; revenue increased 32.8% to 438.8 billion rupees. This rich profit will provide capital for this state-owned exploration enterprise to help the old domestic oil fields resume production and expand the production of overseas assets. India's oil and gas company plans to invest more than 400 billion rupees in offshore projects in western India, using new technology to extract more oil and gas from reservoirs that have been developed for decades.