ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Presenting below are its Q1 FY26 earnings results.
Q1 FY26 Earnings Results
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Consolidated Net Profit: ₹11,554 crore, up 18.19% year-over-year (YoY) from ₹9,776 crore in Q1 FY25.
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Gross Revenue (Consolidated): ₹1,63,108 crore, down 3.47% YoY from ₹1,68,968 crore last year.
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Standalone Net Profit: ₹8,024 crore, down 10.2% YoY but up 24% sequentially; revenue slid 9.3% YoY to ₹32,003 crore.
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EBITDA: ₹18,657 crore, down 2% YoY.
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Standalone Crude Oil Production: 4.683 MMT, up 1.2% YoY; standalone gas production was 4.846 BCM, nearly flat YoY.
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New Well Gas Revenue: ₹1,703 crore in Q1, with a 20% premium over domestic APM gas price, delivering ₹333 crore additional revenue vs normal APM pricing.
Key Management Commentary & Strategic Highlights for Q1 FY26 Earnings
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Profitability: The profit surge was mainly driven by improved production performance, strategic exploitation of new well gas (with premium pricing), and operational cost control.
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Revenue Weakness: Lower average crude oil realization impacted topline, with nominated field realization down 20.4% YoY to $66.13/bbl.
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Exploration Success: ONGC declared two new offshore discoveries—‘Vajramani’ (Mumbai Offshore) and ‘Suryamani’ (Mukta Formation)—further adding to future production prospects.
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Expansion Moves:
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Commenced production at PY-3 Field (Cauvery Basin), gas sales from North Karanpura CBM, and new gas supply to the CGD sector in Tripura.
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Commissioned the largest ASP plant in Ahmedabad and the first onshore Multiphase Pumping system in Kalol.
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Strategic Initiatives: ONGC signed an MoU with ONGC Videsh for coordinated marketing, secured patent for reservoir management, and joined new joint operations for three OALP blocks.
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Renewables: Board approved ₹4,963 crore for setting up a 0.6GW renewable energy project by 2028.
Q4 FY25 Earnings Results
- Oil & Natural Gas Corpn Ltd reported Revenues for Q4FY25 of ₹1,70,812.00 Crores down from ₹1,72,137.00 Crore year on year, a fall of 0.77%.
- Total Expenses for Q4FY25 of ₹1,61,270.00 Crores up from ₹1,60,941.00 Crores year on year, a rise of 0.2%.
- Consolidated Net Profit of ₹8,856.00 Crores down 20.19% from ₹11,096.00 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹5.82, down 26.98% from ₹7.97 in the same quarter of the previous year.
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Production: Steady with ramp-up into Q1 FY26.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.