ONGC Reports 3% Profit Rise in Q4 Amid Production Decline and Higher Prices
State-owned Oil and Natural Gas Corporation (ONGC) reported a 3 percent year-on-year rise in standalone net profit to Rs 6,650 crore for the March quarter of fiscal 2025-26, supported by higher crude price realizations despite a decline in crude oil and natural gas production. Revenue marginally increased to about Rs 35,928 crore. The company wrote off Rs 4,876 crore in exploration costs due to unsuccessful wells. ONGC's board recommended a final dividend of Re 1 per share and approved a joint venture to develop a liquid port in Gujarat. Production challenges were attributed to geological complexities and regional project delays.