ONGC’s Board, in its 388th meeting, approved the Q2 FY25 results, highlighting a 17.1% year-over-year increase in standalone net profit, totaling ₹11,984 crore. The Board also declared an interim dividend of ₹6.00 per share, with a total payout of ₹7,548 crore, and set the record date as November 20, 2024.
Key Financial Performance (Standalone)
| Metric | Q2 FY25 | Q2 FY24 | % Change |
|---|---|---|---|
| Gross Revenue (₹ Crore) | 35,162 | 33,881 | -3.6% |
| Net Profit (₹ Crore) | 11,984 | 10,238 | 17.1% |
Consolidated Financial Highlights
| Metric | Q2 FY25 | Q2 FY24 | % Change |
|---|---|---|---|
| Gross Revenue (₹ Crore) | 1,58,329 | 1,47,614 | 7.3% |
| Net Profit (₹ Crore) | 9,878 | 16,171 | -38.9% |
Production Performance
- Crude Oil Production: Increased 0.7% in Q2 to 4.576 MMT. Total standalone production for H1 FY25 reached 9.204 MMT, up 0.8%.
- Natural Gas Production: Standalone gas production decline slowed to 2.1% in Q2 FY25, following a 3.6% drop in Q1.
Operational Highlights
- New production from three deepwater oil wells in the KG-DWN-98/2 Cluster-II block began on October 30, increasing output to 25,000 BOPD. Additional wells are slated to open soon.
- ONGC achieved record oil production of 1,018 TPD from Cambay Asset on November 8, 2024.
- Significant contracts were signed with L&T for projects enhancing gas and condensate production.
Exploration and Discoveries
ONGC reported six discoveries so far in FY25, including one in the ultra-deepwater Cauvery Offshore. The “Chola” well achieved notable gas flow rates, spurring further exploration in the area.
Awards and Recognitions
ONGC received numerous awards in FY24, including the Global Energy and Environment Award for waste recycling, the Transform HSE Award for industrial safety, and the Blue Planet Award for sustainability.
ONGC’s Q2 FY25 results reflect its strong financial footing and ongoing progress in production growth and exploration, solidifying its role as a leader in India’s energy sector.
