Oil & Natural Gas Corporation Limited — Updates, 11-11-2024: Press Release

ONGC has reported a net profit of ₹11,984 Cr for Q2 FY’25, marking a 17.1% increase compared to the previous year. The company saw a 3.6% decline in gross revenue at ₹35,162 Cr, while interim dividends were declared at ₹6.00 per share, amounting to a total payout of ₹7,548 Cr.

In terms of production, crude oil output rose slightly by 0.7% to 4.576 MMT for Q2 FY’25, with significant contributions from newly opened wells in the KG-DWN-98/2 cluster. Gas production showed signs of recovery, with a decline reduced to 2.1% in Q2 FY’25 compared to the same period last year.

ONGC has also made strides in exploration, reporting six discoveries thus far in FY 2024-25. The company is advancing its LNG initiatives and has significantly increased its stakes in ONGC Petro-additions Limited, enhancing overall operational sustainability. Recognized for excellence in various domains, ONGC continues to position itself strongly within the energy sector, presenting a positive outlook for potential growth.