ONGC Sees 53% Jump in Consolidated Net Profit for Q4FY26

ONGC Posts 52.5% Rise in Net Profit for Q4FY26

State-run Oil and Natural Gas Corp (ONGC) reported a significant increase in its consolidated net profit for the last quarter of financial year 2025-26. The company's net profit rose to Rs 13,677.87 crore, a 52.5% jump from Rs 8,964.67 crore in the same period of the previous fiscal.

On a sequential basis, the net profit increased by 14.4% from Rs 11,946.42 crore in Q3FY26. This rise in net profit is a positive indicator for the company's financial health and performance.

Revenue from Operations and Total Income

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The company's revenue from operations stood at Rs 1.73 lakh crore during the quarter under review, a 3.6% increase from Rs 1.67 lakh crore in Q4FY25. Total income also registered an increase of 3.7% to Rs 1.77 lakh crore compared with Rs 1.70 lakh crore in Q4FY25.

Dividend and Joint Venture Proposal

The Board of Directors has recommended a final dividend at the rate of Rs 1/- per equity share of face value of Rs 5/- each for the financial year 2025-26, subject to the approval of shareholders at the ensuing Annual General Meeting. The total dividend for FY26 would be 265% or Rs 13.25 per share of face value Rs 5 each, with a total payout of Rs 16,669 crore. This includes an interim dividend of Rs 15,411 crore, i.e. 245% (Rs 12.25 per share), already paid during the year.

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The Board has also accorded an in-principle approval for the formation of a 50:50 joint venture company with Gujarat Maritime Board (GMB) to develop a 5 MMTPA liquid port at Dahej, Gujarat, pending investment approvals by the Joint Venture Partners and approval of DIPAM (Department of Investment and Public Asset Management).

Production and Projects

The company produced 18.355 million tonnes of crude oil in FY26, a slight decrease from 18.558 million tonnes in FY25. However, the company noted that its Mumbai High field shows strong early signs of production revival, with oil production reaching 102% and gas production reaching 108% of target baseline after the onboarding of BP as technical service provider.

The company also said that the Daman Upside Development Project (DUDP) is expected to significantly increase gas production equivalent to nearly 9% of ONGC's current gas production. Projects worth Rs 33,075 crore are under progress in western offshore, which will contribute to the production growth in coming years.

ONGC's overseas arm, ONGC Videsh Ltd. registered production of oil and gas of 9.671 MMTOE in FY26, as compared to 10.278 MMTOE in FY25. Key factors affecting production include geopolitical issues in Middle East and South Sudan, cessation of production in Vietnam, reduction in production from Sakhalin, and other factors.

It also said that subsequent to lifting of force majeure in Mozambique project, work is in full swing for the construction of the first two trains of combined capacity of 13.12 MMTPA.