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ONGC: Targeting higher output

Jul 18, 2003

ONGC, the exploration major, has reported highest ever profits in FY03 and has become the first company to cross Rs 100 bn mark in net profits. The company has indicated that it has plans to invest about Rs 160 bn in the current year. Out of this, the company plans to spend about Rs 100 bn on the domestic exploration front. This is about 70% higher than what it had invested in FY03.


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