ONGC Cauvery Asset earn NP of Rs 709 Cr in 1st half of 2012-13

Cauvery Asset of ONGC here has has earned a net profit of Rs 709 crore during the first half of the financial year 2012-13.

Speaking after hoisting the national tri colour at the company premises here on the occasion of Republic Day, Har Govind, Executive Director-cum-Asset Manager, ONGC, Cauvery Asset, Karaikal, said "during the first half of the finanicial year 2012-13 (April-Sep), the Cauvery Asset has earned a net profit of Rs 709 crore.

The Asset has contributed a sum of Rs 192 crore towards royalty and cess to the Government during the same period," he said.

He said the company had taken proactive measures to enhance gas production and sales from Ramnathapuram area. The Asset has recently signed an agreement for sale of gas from Athikadai and Mathur fields of Cauvery Asset.

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