Oil & Natural Gas Corporation Limited — Updates, 31-01-2025: Press Release

Net Profit for ONGC in Q3 FY’25 stood at ₹8,240 Cr, down 16.7% YoY, while gross revenue reported a slight decrease to ₹34,788 Cr. The company has declared a 2nd interim dividend of ₹5.00 per share, amounting to a total payout of ₹6,290 Cr. Despite the decline in profits, ONGC achieved a 2.2% increase in standalone crude oil production, totaling 4.653 MMT. Natural gas production also rose slightly by 0.3%.

In terms of exploration, ONGC recorded seven discoveries this fiscal year, enhancing its operational capabilities. Strategic developments include successful commissioning of five oil wells in the KG-DWN-98/2 block, boosting production.

ONGC strengthened its position by increasing its stake in OPaL to 95.69% and signed a MoU with PowerGrid for green hydrogen projects, aligning with India's renewable energy goals. Recognition includes several awards, highlighting ONGC's industry leadership and commitment to sustainability. Overall, while profits dipped, operational efficiencies and strategic partnerships hint at a positive outlook in the longer term. Investors should monitor ongoing developments closely.