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Informist, Wednesday, Aug. 13, 2025

 

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--ONGC Apr-Jun net profit INR 80.24 bln 
--Analysts saw ONGC Apr-Jun net profit at INR 78.81 bln 
--ONGC Apr-Jun net profit INR 80.24 bln vs INR 89.38 bln year ago 
--ONGC Apr-Jun revenue INR 320.03 bln vs INR 352.66 bln year ago 
--ONGC board OKs investing INR 49.63 bln to set up renewable power project 
--ONGC Apr-Jun operating margin 37.08% vs 37.25% year ago 
--ONGC Apr-Jun other income INR 12.11 bln vs INR 19.33 bln year ago 
--ONGC Apr-Jun offshore revenue INR 220.86 bln vs INR 241.87 bln year ago 
--ONGC Apr-Jun onshore revenue INR 99.17 bln vs INR 110.79 bln year ago 
--ONGC Apr-Jun crude oil output 4.68 mln tn vs 4.63 mln tn year ago 
--ONGC Apr-Jun natural gas output 4.85 bln cu mtr vs 4.86 bln cu mtr yr ago 
 

 

By Akash Mandal

 

MUMBAI – State-owned Oil and Natural Gas Corp. Ltd.'s top line and bottom line both fell on year in the June quarter but beat the Street's expectations because of a fall in expenses during the quarter. Though the bottom line fell due to lower oil price realisations during the quarter, the pace of decline was the slowest on year in three quarters.

 

The oil explorer reported a net profit of INR 80.24 billion for the June quarter, down more than 10% on year but up 24% on a sequential basis. Analysts had estimated the net profit at INR 78.81 billion. The company's revenue from operations fell 9% both on year and sequentially to INR 320.03 billion but beat the Street's estimate of INR 309.80 billion by a considerable margin. Other income for the quarter fell 37% on year to INR 12.11 billion. Its operating margin fell to 37.08% in the June quarter from 37.25% a year ago.

 

The oil producer's profits were boosted by an 11% on-year and 21% sequential fall in total expenses in Apr-Jun to INR 224.69 billion. Depreciation, depletion, amortisation, and impairment costs during the quarter rose 11% on year to INR 65.31 billion. However, statutory levies, which is the company's second highest expense, plunged 38% on year to INR 60.73 billion. Other expenses rose 8% on year to INR 55.77 billion.

 

Revenue from the company's offshore operations fell 9% on year to INR 220.86 billion while that from its onshore operations fell over 10% to INR 99.17 billion. Its crude oil output during the quarter fell to 4.68 million tonnes from 4.63 million tonnes a year ago. Net crude oil realisation fell 18% on year to INR 5,658 per barrel on a nominated basis during the quarter.

 

The oil major's natural gas output was broadly flat on year at 4.85 billion cubic metres, and price for nomination gas rose 2% on year to $6.64 per million British thermal units. New well gas price during the quarter was $8.26 per million British thermal units. 

 

The company's board has approved investing INR 49.63 billion to set up a 600 megawatt renewable power project by 2028. The project will be used for captive consumption, which will result in operational savings, ONGC said. The project will consist of 300 megawatt of solar capacity and 300 megawatt of wind capacity.

 

On Tuesday, shares of the company ended 0.7% lower at INR 235.52 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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