Noida, May 26 (APAC Media): State-owned Oil and Natural Gas Corporation (ONGC) on Tuesday reported a 53% year-on-year increase in consolidated net profit at Rs 13,678 crore for the March quarter of FY2025-26, compared with Rs 8,965 crore in the corresponding quarter a year earlier, according to a regulatory filing.
The company said its revenue from operations rose 3.6% year-on-year to Rs 1,73,805 crore in the March quarter of FY2025-26, compared with Rs 1,67,749 crore in the corresponding period last year.
The board recommended a final dividend of 20% or Re 1 per share, subject to shareholders’ approval at the annual general meeting.
The total dividend for FY2025-26 stands at 265% or Rs 13.25 per share of face value Rs 5 each, translating into a total payout of Rs 16,669 crore. This includes an interim dividend payout of Rs 15,411 crore, or 245% (Rs 12.25 per share), already paid during the fiscal year.
India’s largest government-owned Oil and Natural Gas Corporation has awarded the Technical Service Provider (TSP-2) contract covering the entire Western Offshore region following encouraging results from TSP-1 in the Mumbai High (MH) field, the company said.
It also reported that monetisation of gas production has commenced in record time from the Mega Offshore Gas Project—Daman Upside Development (DUDP) in Western Offshore.
ONGC said projects worth Rs 33,075 crore are currently under execution in the Western Offshore region, the highest level in recent years.
For FY2025-26, the company added that new well gas accounts for 17% of total production and contributes 21% of revenue from its nomination gas portfolio.
Hindustan Petroleum Corporation Limited (HPCL) reported a combined Gross Refinery Margin (GRM) of US$ 8.79 per barrel for its refineries in FY2025-26, compared with US$ 5.74 per barrel in the corresponding previous year.
The company posted revenue from operations of Rs 4,78,543 crore for FY2025-26, up 2.6% from Rs 4,66,346 crore in the previous year.
Standalone net profit (PAT) surged to Rs 17,175 crore, compared with Rs 7,365 crore a year earlier.
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For FY2025-26, HPCL has proposed a final dividend of Rs 19.25 per share, in addition to an interim dividend of Rs 5.00 per share.
Oil and Natural Gas Corporation subsidiary Petronet MHB Limited (PMHBL), in which ONGC and its subsidiary Hindustan Petroleum Corporation Limited hold equal 50% stakes each, recorded a throughput of 4.065 MMT during FY2025-26.
The company reported total revenue of Rs 199.45 crore and a profit of Rs 116.17 crore for the year.During the fiscal, PMHBL declared an interim dividend of Rs 1.93 per equity share, with ONGC receiving Rs 52.95 crore as its share of dividend.
ONGC Tripura Power Company (OTPC), a 50:50 joint venture of ONGC, operates two 363.3 MW power units. In FY2025-26, the company posted revenue from operations of Rs 1,503 crore and a profit after tax of Rs 137 crore.
Meanwhile, Mangalore SEZ Limited reported its highest-ever net profit of Rs 68.18 crore in FY2025-26, with long-term borrowings declining to Rs 96.59 crore from Rs 236.22 crore in the previous fiscal.
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