ONGC consolidated net profit rises 18% to `11,554 crore in June quarter

New Delhi: Oil and Natural Gas Corporation Ltd (ONGC) has reported a consolidated net profit of Rs 11,554 crore for the first quarter of FY2025-26, marking an 18.2 per cent jump from Rs 9,776 crore in the same period last year.

The growth was driven by improved gas realisations from new wells, which contributed Rs 1,703 crore in revenue, including an additional Rs 333 crore over the administered price mechanism (APM) rates due to a 20 per cent premium eligibility.

The ONGC Board approved the quarterly results at its 397th meeting on August 12. On a consolidated basis, gross revenue stood at Rs 1,63,108 crore in Q1 FY26, against Rs 1,68,968 crore in Q1 FY25. Net profit attributable to owners was Rs 9,804 crore in Q1 FY26 against Rs 9,974 crore in Q1 FY25.

On a standalone basis, the company posted a net profit of Rs 8,024 crore in Q1 FY26 against Rs 8,938 crore in Q1 FY25. The company reported gross revenue of Rs 32,003 crore in Q1 FY26 against Rs 35,266 crore in Q1 FY25.

Standalone crude oil production in the quarter rose 1.2 per cent to 4.683 million metric tonnes (MMT), while natural gas output was marginally lower at 4.846 billion cubic metres (BCM) compared to 4.863 BCM Q1 FY25. ONGC declared total 2 discoveries (both in offshore) during Q1 FY 2025-26 in its operated acreages. Out of these, one is prospect and one is pool discovery.