New Delhi: State-run Oil and Natural Gas Corporation (ONGC) on Thursday reported a 23 per cent rise in consolidated net profit to Rs 11,946 crore for the third quarter of FY2025-26, reflecting steady operational performance and higher output from key assets.
On a standalone basis, the company posted a net profit of Rs 8,372 crore in the October-December quarter, marking a 1.6 per cent increase over the corresponding period last year.
ONGC said crude oil production on a standalone basis continued its upward trend, rising 0.35 per cent during the first nine months of FY’26. Standalone natural gas production registered an uptick in the third quarter, while output for the nine-month period remained steady.
The company highlighted encouraging results from its TSP-1 project at the Mumbai High Field. In the eastern offshore region, all imported mega structures and modules under the KG-98/2 project have been successfully installed, marking a significant milestone in project execution.
In the western offshore basin, the Daman Upside Development Project is nearing the commencement of gas production. Additionally, four major infrastructure projects are close to completion, which are expected to further strengthen ONGC’s production profile.
Revenue from new well gas crossed Rs 5,000 crore during the current financial year, underlining the contribution of recently commissioned wells to the company’s earnings.
The ONGC board also declared a second interim dividend of 125 per cent for FY’26. With this, the cumulative dividend declared so far in the current fiscal stands at 245 per cent.
The results underscore ONGC’s focus on enhancing production, fast-tracking project execution and maintaining strong shareholder returns amid evolving energy market dynamics.