ONGC Q2 net profit jumps 57% on higher crude, gas realisations
Along with the results, the company declared an interim dividend of ₹8 per equity share.
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Published - November 05, 2026 08:59 pm IST - NEW DELHI
ONGC’s crude oil realisation rose to $92.33 per barrel from $67.34 a barrel in the year-ago quarter.
Gas prices from nominated fields increased to $7 per million British thermal units (MMBTU) from $6.75 per MMBTU. | Photo Credit: Reuters
State-owned Oil and Natural Gas Corporation (ONGC) reported a 57.3% year-on-year (YoY) surge in standalone net profit to ₹15,489 crore for the quarter ended September, supported by higher realisations from crude oil and natural gas.
The company also declared an interim dividend of ₹8 per equity share.
ONGC’s crude oil realisation rose to $92.33 per barrel from $67.34 a barrel in the year-ago quarter.
Gas prices from nominated fields increased to $7 per million British thermal units (MMBTU) from $6.75 per MMBTU.
Realisation from new-well gas, previously identified by Chairman Arun Kumar Singh as a key driver of profitability going ahead, climbed to $10.24 per MMBTU against $8.36 per MMBTU a year earlier.
Revenue for the quarter grew 32.8% YoY to ₹43,875 crore.
However, production remained under pressure.
Standalone crude oil output declined 4.2% to 4.437 million metric tonnes (MMT), while natural gas production fell 1.6% to 4.839 billion cubic metres (BCM).
Explaining the production dip, ONGC said, “The year-on-year moderation in quarterly production was primarily attributable to reservoir behaviour complexities in KG-98/2 Asset in Eastern Offshore Basin, coupled with monsoon related operational challenges and associated delays in PRP-8 and PRP-9 (Pipeline replacement projects).”
The company added that onshore gas production was affected by lower customer offtake and disruptions at certain major consumer facilities, which temporarily dampened demand.
oil and gas - upstream activities / economy, business and finance / oil and gas - downstream activities / earnings / company information
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