#ONGC to take Rs 2,500 crore hit in Q4 due to royalty payment made to Assam government

The profits of state-run Oil and Natural Gas Corporation Ltd (ONGC) is likely to be hit in the fourth quarter of the current financial year as it will be take into account the Rs2,500 paid towards royalty to Assam government for the period February 2014 to June 2015. "Though the amount has already been paid, it was not accounted for, and will reflect in the fourth quarter of the financial year," said an ONGC executive.