ONGC posts 20% decline in Q4 net profit at Rs 8,856 crore, declares dividend of Rs 1.25/share

Oil and Natural Gas Corporation (ONGC) Ltd on May 21 reported a 20.18 percent drop in consolidated net profit at Rs 8,856.33 crore in the quarter ended March 31, compared to Rs 11,096.03 crore in the same period of previous financial year, on account of lower crude price realisation.

The company had reported a net profit of Rs 9,783.64 crore in the December quarter.

The revenue from operations was flat in the quarter at Rs 1.70 lakh crore, as against Rs 1.72 lakh crore in the year-ago period.

The board of directors recommended a final dividend of Rs 1.25 per share.

In Q4, ONGC’s standalone crude oil production came in at 4.70 million metric tonne (mmt) while gas production in the period was 4.893 billion cubic metre (BCM).

Crude oil price realisation from nominated fields was $73.72 per barrel in Q4, much lower as compared to $80.81/bbl in the same period last year.

During financial year 2024-25 (FY25), ONGC declared total 9 discoveries (5 in onland and 4 in offshore) in its operated acreages. Out of these, 7 are prospect (4 onland and 3 Offshore) and 2 (1 in onland and 1 in offshore) are new pool discoveries.ONGC invested around Rs 62,000 crore in capital expenditure in FY25, including Rs 18,365 crore in OPaL, Rs 4,600 crore in ONGC Green Ltd for acquisition of PTC Energy and Ayana Renewables.