Oil and Natural Gas Corporation (ONGC), the country's largest oil producer, has reported a downfall of 16% in its net profit at Rs 2,206.76 crore for the fourth quarter ended March 31, 2009, over the same period last year.

The public sector oil and gas explorer had posted a net profit of Rs 2,627.10 crore during the March quarter a year ago.

In addition, company's total operating income also fell by 17.16% to Rs 13,833.58 crore during the January-March quarter of FY09 from Rs 16,699.21 crore of the corresponding period a year earlier.

For the financial year 2008-09, ONGC posted a net profit of Rs 16,126.31 crore, down by 3.44 per cent from that of Rs 16,701.65 crore in FY08.

Apart from announcement of results, the company has declared a final dividend of Rs 14 per share for the 2008-09.

The stock of the company today closed at Rs 1051, up 2% compared to previous close of Rs 1026.