New Delhi: Oil and Natural Gas Corporation (ONGC) on Monday reported a 28.2 per cent increase in consolidated net profit to ₹12,615 crore for the second quarter of FY26, compared to ₹9,841 crore in the corresponding period last year.
In a statement, the company said its standalone net profit for the quarter stood at ₹9,848 crore. The consolidated gross revenue for the July–September quarter was ₹1,57,911 crore, marginally lower than ₹1,59,331 crore in Q2 FY25.
The ONGC Board, at its 402nd meeting held on November 10, approved an interim dividend of 120 per cent, translating to ₹6 per equity share of face value ₹5, amounting to a total payout of ₹7,548 crore.
During the quarter, ONGC’s crude oil production increased 1.2 per cent year-on-year to 4.63 million metric tonnes (MMT), while gas production was reported at 5.27 billion cubic metres (BCM). For the half-year ended September 2025, cumulative crude oil output stood at 9.31 MMT, and gas output at 10.59 BCM.
The company said that its new well gas (NWG) share in total gas revenue from nomination fields crossed 21 per cent in the first half of FY26. The revenue from NWG was ₹3,352 crore, generating an additional ₹651 crore compared to the administered price mechanism (APM) gas price.
ONGC said that it continues to focus on exploration and production efficiency. During the first half of FY26, the company notified two new hydrocarbon discoveries — one named Vajramani and another new pool discovery in well MBS202HAA-1.
It said these discoveries have been made in line with its exploration strategy and that the company is also aligning its deepwater exploration efforts with the National Deepwater Exploration Mission – Samudra Manthan, announced by the Prime Minister on Independence Day.
During the same period, ONGC signed a joint operating agreement with BP Exploration (Alpha) Ltd and Reliance Industries Ltd for exploration activities in offshore block GS-OSHP-2022/2 in the Saurashtra Basin.
It also entered into an agreement with Mitsui OSK Lines Ltd of Japan to form joint ventures for two Very Large Ethane Carriers (VLECs) that will transport ethane from the United States to India.
In the downstream segment, ONGC signed its first-ever LPG sale and purchase agreement with HPCL and successfully monetised its discovered small field block Chinnewala Tibba in Rajasthan.
The company said it continues to pursue digitisation and innovation initiatives, receiving multiple recognitions during the quarter.
