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Informist, Tuesday, Nov. 11, 2025

 

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--ONGC Jul-Sept standalone natural gas output 4.92 bln cu mtr, unch on year
--ONGC Jul-Sept standalone crude oil output 4.63 mln tn vs 4.58 mln tn yr ago
--ONGC Jul-Sept onshore revenue INR 101.33 bln vs INR 108.77 bln year ago
--ONGC Jul-Sept offshore revenue INR 228.98 bln vs INR 230.04 bln year ago
--ONGC Jul-Sept operating margin 41.34% vs 47.79% year ago
--ONGC interim dividend record date is Nov 14
--ONGC to pay INR 6 per share interim dividend
--ONGC Apr-Sept revenue INR 650.33 bln vs INR 691.47 bln year ago
--ONGC Apr-Sept net profit INR 178.72 bln vs INR 209.22 bln year ago
--ONGC Jul-Sept revenue INR 330.31 bln vs INR 338.81 bln year ago
--ONGC Jul-Sept net profit INR 98.48 bln vs INR 119.84 bln year ago
--Analysts saw ONGC Jul-Sept revenue at INR 327.40 bln
--ONGC Jul-Sept revenue INR 330.31 bln
--Analysts saw ONGC Jul-Sept net profit at INR 93.86 bln
--ONGC Jul-Sept net profit INR 98.48 bln

 

By Narayana Krishna

 

HYDERABAD - A double-digit fall in crude oil prices impacted state-run Oil and Natural Gas Corp. Ltd.'s earnings, as the upstream company reported an on-year fall in its September quarter net profit as well as revenues. However, the company reported better-than-expected performance in both the metrics for the quarter, led by improved crude oil production, stable natural gas output, and stronger operational performance.

 

The company reported a net profit of INR 98.48 billion for Jul-Sept, a decline of nearly 18% on year but above analysts' estimates of INR 93.86 billion. Revenue for the reporting quarter fell 2.5% on year to INR 330.31 billion, but came in above Street estimates of INR 327.40 billion.

 

ONGC's standalone crude oil output for the September quarter improved to 4.63 million tonnes against 4.58 million tonnes a year ago, registering a growth of 1.2% on year. The company's natural gas output for the quarter was at 4.92 billion cubic meters, unchanged on year. ONGC said the company was able to arrest the degrowth in its natural gas production in the September quarter.

 

The company also delivered better-than-expected earnings for the September quarter on account of the premium on gas produced from new wells. ONGC said the share of gas produced from new wells crossed 21% of the total gas revenue as of Sept. 30. The company's onshore revenue declined nearly 7% on year to INR 101.33 billion, while offshore revenue fell marginally by 0.5% to INR 228.98 billion.

 

ONGC is primarily engaged in exploration and production of crude oil, natural gas, and some value-added products. It produces around 70% of India's crude oil and 84% of its natural gas. Crude oil production contributed nearly 45% to the company's turnover in 2024-25 (Apr-Mar) while natural gas production contributed around 48%. ONGC sells a bulk of its domestic production to refiners such as Hindustan Petroleum Corp. Ltd. and Mangalore Refinery and Petrochemicals Ltd.

 

The company's crude oil price realisation from the nominated category of fields fell 14% on year to $67.34 per barrel, while for the joint venture category, crude price realisation fell 12.3% on year to $68.35 per barrel for the reporting quarter. The company's gas price realisation for the September quarter under the nominated category improved by 3.8% on year to $6.75 per million British thermal units. However, price realisation from new gas wells fell 11.3% on year to $8.36 per million British thermal units. ONCG said the company is actively working to boost output from new wells, as it is eligible for a 20% premium over the domestic advanced price mechanism gas price.

 

ONGC's operating margin for the September quarter came in at 41.34%, a decline of 645 basis points from the year-ago quarter, mainly on account of a fall in price realisations. The company's total expenses for the quarter were up 1.3% on year at INR 239.1 billion. Other expenses rose 22.7% on year to INR 69.1 billion.

 

For Apr-Sept, ONGC reported a net profit of INR 178.72 billion, a decline of 14.6% on year, while its revenue for the period fell nearly 6% on year to INR 650.33 billion.

 

The board of ONGC also approved an interim dividend of INR 6 per share and set the record date for the same on Friday.

 

At 0928 IST, ONGC's shares traded at INR 250.45 on the National Stock Exchange, down 0.38% from the previous close.  End

 

US$1 = INR 88.71

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Tanima Banerjee

 

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