ONGC Cauvery Asset posts highest-ever revenue of Rs2,332 cr in FY ’14
16 Aug 2014
ONGC Cauvery Asset, headquartered in Karaikal, said on Friday that it has achieved its highest ever revenue and profit during the financial year 2013-14.
Cauvery Asset earned a revenue of Rs2,332 crore during the financial year, which is 13 per cent higher than the previous financial year, group general manager C Singh told reporters after hoisting the national flag at the ONGC grounds in Karaikal.
Net profit for the period was Rs1,423 crore, Singh said, adding that Cauvery Asset had exceeded the oil and gas production targets by 6 per cent during FY14.
Cauvery Asset has received three awards in the safety and environment protection categories from Greentech foundation, New Delhi, this year, he added.
He also pointed out that Cauvery Asset had undertaken various projects under its corporate social responsibility scheme, and had spent more than Rs10 crore towards development of school infrastructure and creation of self-employment opportunities in this area since last year.
