All-round Q3 Surge: ONGC Boosts Consolidated and Standalone Earnings, Declares ₹6.25 Interim Dividend
Consolidated net profit jumps 23% to ₹11,946 crore; cumulative interim dividend for FY26 reaches record ₹15,411 crore as production and exploration momentum continues
Oil and Natural Gas Corporation (ONGC) has reported a strong all-round performance for the third quarter (Q3) of FY 2025–26, posting robust growth in consolidated and standalone earnings while announcing its second interim dividend of ₹6.25 per share (125%). With this, the cumulative interim dividend for FY’26 has reached 245%, translating into the highest-ever cumulative interim payout of ₹15,411 crore.
The financial results were approved during the 405th Board Meeting held on 12 February 2026.
Strong Financial Performance
On a consolidated basis, ONGC reported a net profit of ₹11,946 crore in Q3 FY’26, marking a 23% increase over ₹9,747 crore in the corresponding quarter last year. Net profit attributable to owners rose 16.67% to ₹10,016 crore.
For the nine-month period (9M FY’26), consolidated net profit grew nearly 23% to ₹36,115 crore compared to ₹29,364 crore in 9M FY’25.
Standalone performance also remained resilient. Q3 FY’26 standalone net profit increased by 1.6% to ₹8,372 crore. However, gross revenue moderated due to softer crude price realizations. For 9M FY’26, standalone net profit stood at ₹26,244 crore.
Dividend Bonanza
The Board approved a second interim dividend of ₹6.25 per equity share of ₹5 each (125%), amounting to a payout of ₹7,863 crore. The record date has been fixed as 18 February 2026.
This follows the first interim dividend of ₹6.00 per share (120%) declared in November 2025. Together, ONGC’s cumulative interim dividend for FY’26 stands at ₹15,411 crore — the highest ever in the company’s history.
Production Performance
ONGC registered a 0.35% growth in crude oil production during 9M FY’26 at 13.907 MMT compared to 13.858 MMT in the previous year. Natural gas production remained steady at 14.751 BCM.
In Q3 FY’26:
- Standalone crude oil production stood at 4.592 MMT.
- Standalone natural gas production was 4.988 BCM.
The TSP-1 project at Mumbai High Field is showing encouraging results, while the Western Offshore Daman Upside Development Project is nearing commencement of gas production.
Boost from New Well Gas
Revenue from New Well Gas crossed ₹5,028 crore during 9M FY’26, generating an additional ₹944 crore over APM gas pricing. New Well Gas now contributes over 18% of ONGC’s total gas sales revenue, strengthening margins despite softer crude realizations.
Exploration & Strategic Developments
ONGC acquired 735.82 LKM of 2D seismic data and 4,484.59 SKM of 3D seismic data during FY’26 up to Q3.
The company monetized two hydrocarbon discoveries — Anor (Gujarat) and Gojalia-14 (Tripura). It also spudded the first stratigraphic well, AND-P-1, in the ultra-deepwater Andaman Basin under the Government of India initiative.
At India Energy Week 2026 in Goa, ONGC was recognized as “Exploration Company of the Year” by FIPI.
Strategically, ONGC signed:
- A 15-year Ethane Unloading, Storage & Handling (USH) Agreement with Petronet LNG for 600 KTPA at Dahej from Q4 2028.
- Shipbuilding contracts for two Indian-flag Very Large Ethane Carriers through its JV companies with Samsung Heavy Industries to enhance energy logistics security.
Awards & Recognition
During Q3 FY’26, ONGC received:
- Mahatma Award for Healthcare Excellence 2025 for CSR contributions.
- Best Fire Safe Upstream Award at Bharat Fire Safety Congress 2025.
- “Pioneers in Energy Transformation” Award for ONGC Green Limited by Economic Times.
