Growth in topline led to better performance and the company will be able to maintain realisations around $71 per barrel levels, said Subhash Kumar, director-finance at Oil and Natural Gas Corporation.

ONGC on Thursday reported its highest quarterly net profit in more than four and a half years on sharp rise in prices for the oil and gas it produced.

The company reported a net profit of Rs 6,144 crore in the June quarter. It was 58.1 percent higher than Rs 3,884.73 crore in the year earlier period,

“In terms of oil we would be a shade better than what we have done during the past year and as far as gas is concerned, this will be significantly better than last year’s performance,” Kumar said

The company will be able to do better this year with regards to oil production against previous years, he added.

"We will be able to increase gas volumes by around 6 percent in coming years," he said.