New Delhi: In its 373rd meeting held on 10 November, 2023, ONGC Board approved the results for second quarter (Q2) of FY2023-24.
The company’s consolidated net profit jumped 142.4 per cent to Rs 16,553 crore in Q2 FY24 as compared to Rs 6,830 crore in same period in previous fiscal. For the first half (H1) of FY24 ONGC reported the net profit of Rs 33,936 crore against Rs 15,411 crore in H1 FY23, registering an increase of 120.2 per cent.
However, its gross revenue stood at Rs 1,46,874 crore in Q2 FY24, against Rs 1,68,656 in same period in FY23. For H1 FY24 the company reported gross revenue of Rs 3,10,697 crore against Rs 3,51,550 crore during same period in previous fiscal.
On standalone basis, the company reported net profit of Rs 10,216 crore in Q2 FY24 as compared to Rs 12,826 crore in Q2 FY23, a variation of 20.3 per cent. The gross revenue in Q2 FY24 stood at Rs 35,162 crore against Rs 38,321 crore in second quarter of previous fiscal.
For H1 FY24 the firm reported net profit of Rs 20,231 crore, against Rs 28,032 crore in first half of FY23, a variation of 27.8 per cent. The company reported gross revenue of Rs 68,977 crore in H1 FY24 as against Rs 80,642 crore in same period in previous fiscal.
The board has approved interim dividend of 115 per cent, i.e. Rs 5.75 on each equity share of Rs 5. The total payout on this account will be Rs 7,234 crore. The date for distribution of dividend has been fixed for November 21, 2023.