New Delhi: State-run Oil and Natural Gas Corporation (ONGC) reported a standalone profit after tax (PAT) of ₹35,610 crore for the financial year 2024–25, down from ₹40,526 crore in the previous year, registering a decline of 12.1 per cent.
Consolidated PAT stood at ₹38,329 crore, as against ₹55,273 crore in FY24, marking a 30.7 per cent decrease.
ONGC’s Board approved a final dividend of ₹1.25 per share at its meeting on May 21. With this, the total dividend payout for FY25, including interim dividends, stands at ₹15,411 crore (₹12.25 per share).
Crude oil production for the year rose 0.9 per cent to 18.558 million metric tonnes (MMT), up from 18.401 MMT in FY24. Natural gas production was 19.654 billion cubic metres (BCM), compared to 19.978 BCM in the previous year.
The company drilled 578 wells in FY25, the highest in 35 years. This includes 109 exploratory and 469 development wells. ONGC made nine hydrocarbon discoveries and monetised eight during the year.
ONGC completed several key tests in its new fields. The exploratory well Yandapalli-1 in the Krishna Godavari basin flowed oil at 104.62 cubic metres/day and gas at 14,624 cubic metres/day. The well MBS202HAA-1 in Mumbai Offshore flowed oil at 2,237 barrels/day and gas at 45,181 cubic metres/day from Object-I, and oil at 413 barrels/day and gas at 15,132 cubic metres/day from Object-II.
The company has earmarked a capital expenditure of around ₹62,000 crore for FY25. This includes ₹18,365 crore for ONGC Petro additions Ltd (OPaL) and ₹4,600 crore for ONGC Green Ltd, which acquired PTC Energy and a 50 per cent stake in Ayana Renewable.
ONGC Videsh Ltd (OVL) reported oil production of 7.265 MMT, up 1.2 per cent from 7.181 MMT in FY24. Gas production declined to 3.013 BCM from 3.340 BCM. Total production stood at 10.278 million tonnes of oil equivalent (MMTOE). OVL posted turnover of ₹12,995 crore and a PAT of ₹418 crore.
Subsidiary Hindustan Petroleum Corporation Ltd (HPCL) processed 25.27 MMT of crude and posted a standalone PAT of ₹7,365 crore, compared to ₹14,694 crore in FY24. HPCL’s total sales volume was 49.82 MMT and gross refining margins (GRMs) were $5.74 per barrel, down from $9.08 in FY24.
Mangalore Refinery and Petrochemicals Ltd (MRPL) reported its highest-ever crude throughput at 18.044 MMT. Its GRM fell to $4.45 per barrel from $10.36 in FY24. PAT was ₹51 crore, down from ₹3,596 crore last year.
ONGC Green Ltd added 2.345 GW renewable energy capacity. OPaL reported revenue of ₹14,804 crore and operated at 93 per cent capacity. ONGC Tripura Power Company generated 3,688 million units of electricity and earned ₹1.49 crore profit. Petronet MHB Ltd reported throughput of 3.971 MMT and a PAT of ₹83 crore.
ONGC launched an ultra-deepwater drilling campaign in the Andaman Basin and began drilling in the Ganga Basin. It signed MoUs with BHEL for green hydrogen and with Tata Power Renewable for battery energy storage.
