ONGC Q2 Results: Profit Surges 22%, Revenue Rises
ONGC's revenue increased by 3.2% sequentially for the second quarter, reaching Rs 33,031 crore.
Oil & Natural Gas Corp. posted a 22% rise in net profit in the second quarter of this financial year. It has posted a consolidated profit of Rs 9,848 crore.
This is in comparison to profit of Rs 8,024.23 crore in the preceding quarter, according to its stock exchange notification on Monday.
ONGC's revenue increased by 3.2% sequentially for the second quarter, reaching Rs 33,031 crore. The company had posted a revenue of Rs 32,002.89 crore in the previous quarter.
Following its second-quarter results, ONGC announced a substantial investment of Rs 422 crore in its subsidiary, ONGC Green Ltd., executed through a rights issue.
Additionally, the company is set to invest in two separate joint ventures or JV with Mitsui OSK, establishing a 50:50 shareholding for both partnerships.
Regarding shareholder returns or the dividend, ONGC has fixed Nov. 14 as the record date for the payment of its first interim dividend, which amounts to Rs 6 per equity share.
ONGC Q2FY26 Highlights (Consolidated, QoQ)
Revenue up 3.2% to Rs 33,031 crore versus Rs 32,003 crore.
Ebitda down 5.1% to Rs 17,697 crore versus Rs 18,657 crore.
Margin to 53.6% versus 58.3%.
Net profit up 22.7% to Rs 9,848 crore versus Rs 8,024 crore.
ONGC Share Price Today
The quarterly earnings was shared after market hours. The stock settled 0.32% lower at Rs 251.40 apiece on the NSE, compared to a 0.32% advance in the benchmark Nifty 50.
ONGC's shares have fallen 4.25% in the last 12 months and 5.08% year-to-date.
Out of 29 analysts tracking the company, 19 maintain a 'buy' rating, four recommend a 'hold' and five suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 279.11 implies a potential upside of 11%.
