Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a lower net profit for the April-June quarter from a year earlier on the back of falling oil prices and basically flat production. ONGC reported a net profit of $917 million (80.24 billion Indian rupees) for the first quarter of its 2025/2026 fiscal year, down by 10% compared to the same period of the previous financial year. Oil prices slumped in April to June by about 10% amid high volatility due…