New Delhi, January 31, 2025 – Oil and Natural Gas Corporation (ONGC) announced its financial results for the third quarter of FY 2024-25, reporting a standalone net profit of ₹8,240 crore. The company also declared a second interim dividend of ₹5.00 per share, with a total payout of ₹6,290 crore.
Key Highlights:
• Financial Performance:
• Standalone net profit declined by 16.7% year-on-year.
• Consolidated net profit dropped by 6.9% to ₹9,784 crore.
• Revenue remained stable at ₹1,67,357 crore (consolidated).
• Production Growth:
• Crude oil production (standalone) rose to 4.653 million metric tons (MMT), up 2.2% YoY.
• Natural gas production increased marginally to 4.978 billion cubic meters (BCM).
• Production boost from Cluster-II of KG-DWN-98/2 block, with output reaching 35,000 barrels per day.
• Exploration and Investments:
• ONGC reported seven new oil and gas discoveries, including Vadatal-37 in Cambay Basin.
• Completed a ₹18,365 crore investment in OPaL, increasing its stake to 95.69%.
• Signed an MoU with PowerGrid Corporation for green hydrogen and clean energy projects.
• Awards & Recognitions:
• “Company of the Year 2024” in Maharatna and Navratna category.
• “Oil & Gas Exploration Company of the Year – 2023” by FIPI.
• Multiple CSR and safety excellence awards.
ONGC’s continued production growth and strategic investments signal its commitment to long-term energy security and sustainability.