ONGC Reports 28.2% Rise in Q2 FY’26 Net Profit to ₹12,615 Crore; Declares Interim Dividend of ₹6 per Share

Oil and Natural Gas Corporation Limited (ONGC), India’s largest oil and gas producer, announced its financial results for the second quarter (Q2) of FY 2025-26, posting a consolidated net profit of ₹12,615 crore, marking a robust 28.2% year-on-year growth. The ONGC Board, in its 402nd meeting held today, also approved an interim dividend of ₹6 per equity share on the face value of ₹5 each (120%).

Key Financial Highlights (Q2 FY’26):

• Consolidated Net Profit: ₹12,615 crore (↑ 28.2% YoY)

• Standalone Net Profit: ₹9,848 crore

• Gross Revenue (Consolidated): ₹1,59,331 crore

• Interim Dividend: 120% i.e., ₹6 per share; total payout ₹7,548 crore

• Record Date for Dividend: 14 November 2025

Operational Performance:

Crude Oil Production:

• Standalone: 4.630 MMT (↑ 1.2% YoY)

• H1 FY’26 production: 9.314 MMT vs. 9.204 MMT in H1 FY’25

Natural Gas Production:

ONGC Standalone: 4.918 BCM (almost stable YoY)

• New Well Gas (NWG) contributed over 21% of total gas revenue from nomination fields during H1 FY’26.

• Revenue from new well gas: ₹3,352 crore

• Additional ₹651 crore over APM gas price

Exploration and Production Developments:

• ONGC announced two new hydrocarbon discoveries during H1 FY’26 — Vajramani and MBS202HAA-1.

• Under the National Deepwater Exploration Mission “Samudra Manthan”, ONGC accelerated ultra-deepwater drilling in the Andaman Offshore region, alongside seismic data acquisition along the East and West Coasts.

• The company drilled eight exploratory wells in Category-II & III basins, including Andaman Offshore, Bengal Onland, Kutch, Narmada, and South Rewa basins.

Strategic Collaborations and Milestones:

• MoU with Vedanta Ltd. for early monetisation of Jantapathar Gas Field (A&AA Basin).

• Joint Operating Agreement with BP Exploration (Alpha) Ltd and Reliance Industries Ltd for exploration in Saurashtra Basin under OALP-IX.

• HoA with Mitsui OSK Lines, Japan to form joint ventures for two Very Large Ethane Carriers (VLECs) to transport ethane from the USA to India for ONGC Petro additions Ltd. (OPaL).

• First-ever LPG Sale & Purchase Agreement signed with HPCL to promote domestic LPG production and import substitution.

• Co-development pact signed between ONGC-CIL JV and JSW Steel Ltd for Jharia CBM Block—a first-of-its-kind collaboration in India.

• Deployment of VisiTraK technology in Panna, B&S Asset led to significant rig-time savings and cost optimisation.

Innovation & Patents:

ONGC secured two patents:

• Fracturing Fluid Formulation using Effluent Water (India)

• ThixoLite Lightweight Drilling Composition (U.S.)

Awards & Recognitions:

• SCOPE Eminence Award 2022-23 (CSR & Responsiveness) conferred by Hon’ble President of India.

• CIPS ProcureCon Excellence in Procurement Awards Asia 2025 – Winner, Best Approach to Risk Mitigation.

• Global Sustainability Champion Awards 2025 – Platinum Category.

• Economic Times Energy Leadership Award 2025 – Excellence in Digitization.

Comment:

ONGC continues to deliver strong financial and operational results, driven by higher realisations, new technology adoption, and a sustained focus on domestic production growth. Its strategic alliances and investments in deepwater exploration, gas monetisation, and innovation reaffirm its commitment to India’s energy security and Atmanirbhar Bharat vision.