Oil & Natural Gas Corp. declared its second interim dividend of Rs 5 per share at a face value of Rs 5 each for the current financial year.
The company has set Feb. 7, 2025, as the record date to determine the shareholders eligible for the dividend, according to an exchange filing on Friday.
Earlier, the oil and gas producer announced its first interim dividend of Rs 6 per share and the record date for the same was set at Nov. 20.
Oil & Natural Gas Corp.'s net profit fell by 31% in the October–December quarter of the current fiscal, missing market expectations.
The energy giant reported a net profit of Rs 8,240 crore, compared to Rs 11,984 crore in the same quarter of the previous fiscal year, according to an exchange filing on Friday. Analysts tracked by Bloomberg had estimated a net profit of Rs 9,897 crore.
Revenue from operations for the quarter ended December slipped marginally to Rs 33,716.8 crore. Bloomberg analysts' consensus estimate for the revenue stood at Rs 32,254 crore.
Shares of ONGC closed 2.29% higher at Rs 262.61 apiece on the National Stock Exchange, compared to a 1.11% advance in the benchmark Nifty. The stock has fallen 4.11% in the last 12 months.
Out of the 30 analysts tracking the company, 20 maintain a 'buy' rating on the stock, five recommend 'hold' and as many suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 20.2%.
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