State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said.
In a setback to initial public offer (IPO)-ready Coal India, the Jharkhand government has rejected a forest clearance for a railway link being planned for evacuation of coal from the North Karanpura coalfield operated by the coal miner.
The Prime Minister's Office has asked the Coal Ministry to monitor closely the process of allotment and auction of coal mines to ensure that there is no disruption in the production of dry fuel.
He also stressed on the need to have a stable government to take significant decisions.
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
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