However, revenue from operations declined 3.6% YoY to Rs 33,880.88 crore in the quarter ended 30 September 2024.
Profit before tax (PBT) stood at Rs 15,036 crore during the quarter, up 11.37% from Rs 13,501.01 crore posted in same quarter last year.
The company’s net crude oil realization was $78.33 per barrel (down 7.7% YoY) while gas price realization was $6.50 per mmtbu (flat YoY) during the period under review.
During the quarter, crude oil production added 0.7% YoY to 4.576 million metric tonnes (MMT) and gas production was 4.912 billion cubic metre (BCM), (down 2.11% YoY).
On consolidated basis, the company’s net profit declined 25% YoY to Rs 10,272.50 crore despite of 7.3% rise in revenue from operations to Rs 1,58,329.09 crore in Q2 FY25 over Q2 FY24.
Meanwhile, the company’s board has declared interim dividend of Rs 6 per equity share for the financial year 2024-25. The firm has fixed 20 November 2024 as record date for the same.
Maharatna Oil and Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held 58.89% stake in ONGC as of September 2024.
The counter added 0.39% to currently trade at Rs 257.90 on the BSE.