ONGC Q2 FY25 results: Net Profit up by 17%, dividend announced

The state-owned ONGC announced on Monday that its standalone net profit for the quarter that ended in September 2024 increased by 17% to ₹11,984 crore. A year ago, that amount was ₹10,238 crore.

Compared to ₹35,163 crore in the same time the previous year, revenue from operations decreased 4% year over year to ₹33,881 crore.

For the fiscal year 2024–2025, the board has announced a first interim dividend of ₹6 per equity share with a face value of ₹5. In order to ascertain whether stockholders are eligible to receive the dividend, the business has set November 20 as the record date.

For the quarter that ended in September 2024, the company generated an EBITDA of ₹18,236 crore. ONGC’s revenue rose by 7.25% to ₹1,58,329.10 crore in the July to September quarter, compared to ₹1,47,613.68 crore a year ago. 

Although the company’s income increased, the increase was exceeded by its expenses. Due to the cost of the commodities ONGC used, the overall costs for the quarter increased 15.34% from ₹1,29,855.53 crore to ₹1,49,780.26 crore year over year.

Also read: State Bank Of India: FY25 Q2 Results

Segment-wise, the revenue for ONGC is the sale and refining of oil. In comparison to ₹1,25,568.88 crore in the prior year, the category saw a 9.2% increase in the July to September quarter to ₹1,37,127.09 crore.

According to the company’s financial statistics released on the Bombay Stock Exchange, it produced 4.576 million metric tonnes (MMT) of crude oil in the September quarter of FY25, an increase of 0.7%.

Interim Dividend 

Coming to the dividend policy, the Board of Directors of the massive oil refining corporation also resolved to pay out an interim dividend of ₹6 per equity share, which has a face value of ₹5 per share.

About ONGC

Oil and Natural Gas Corporation (ONGC) is a “Maharatna” company and one of India’s major companies undertaken by the Indian central public sector that is responsible for the production and exploration of oil & gas in India and abroad. 

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