State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday reported a 20% decline in its consolidated net profit for the fourth quarter of FY25 at Rs 8,856 crore against Rs 11,096 crore in Q4FY24. On a sequential basis, the net profit declined by 9% from Rs 9,784 crore in Q3FY25.
The company’s revenue from operations during the quarter under review stood at Rs 1.70 lakh crore, down marginally from Rs 1.72 lakh crore in Q4FY24. Total income stood at Rs 1.73 lakh crore during the quarter under review, down from Rs 1.75 lakh crore in Q4FY24.
For the full year 2024-25, the oil and gas exploration major’s consolidated net profit reduced by 30.6% to Rs 38,329 crore from Rs 55,273 crore in FY24.
The company’s board has recommended a final dividend at the rate of Rs 1.25 per equity share of face value of Rs 5 each for FY25 subject to the approval of shareholders in the ensuing annual general meeting.
“The Board of Directors in its meeting held on May 21, 2025 has recommended a final dividend of Rs 1.25 per share (25%) which works out to Rs 1,573 crore over and above the first interim dividend of Rs 6 per share (120%) declared on November 11, 2024 and second interim dividend of Rs 5 per share (100%) declared on January 31, 2025,” it said.
The board also gave its approval for extending corporate guarantee support of up to Rs 20,000 crore to lenders in one or more tranches by ONGC Petro Additions (OPaL), a subsidiary of the company, including for refinancing of debts.
“OPaL has taken various measures to improve profitability, which includes revision of capital structure, exit from SEZ area, reduction in input cost, optimisation of product mix and loan restructuring,” the company said in its exchange filing.
The standalone crude oil production of the company during FY25 stood at 18.56 million tonnes with an increase of 0.9% from FY24. The standalone natural gas production was 19.65 billion cubic meters (BCM) in FY25, as against 19.978 BCM in FY24.
The company declared a total of nine discoveries (5 on land and 4 offshore) during FY25 in its operated acreages. Out of these, seven are prospects and two are new pool discoveries.
Moreover, the company has monetised eight hydrocarbon discoveries during FY25.
ONGC drilled 578 wells, the highest recorded in the past 35 years, comprising 109 exploratory and 469 development wells.
The company invested around Rs 62,000 crore as capex in FY25, including Rs 18,365 crore in OPaL and Rs 4,600 crore in ONGC Green for acquisition of PTC Energy and Ayana Renewables.
ONGC’s overseas arm, ONGC Videsh’s (OVL) oil production increased marginally by 1.2% in FY25, reaching 7.265 MMT from 7.178 MMT in FY24. This positive performance was driven by strong contributions from the key operated/ jointly operated assets, namely MECL & CPO5 in Colombia and GPOC & SPOC in South Sudan despite geopolitical headwinds, natural decline, and local issues, the company said.
OVL’s gas production output moderated to 3.013 BCM in FY25 from 3.340 BCM in FY24, primarily due to the end of production life in Block 06.1 Vietnam. The total oil and gas production in FY25 was 10.278 MMTOE, as compared to 10.518 MMTOE in FY24.
OVL achieved a turnover of Rs.12,995 crore during FY25 as compared to the turnover of Rs.13,197 crore during FY24. This was mainly due to lower realised crude oil price of $70.23/bbl during the last fiscal as against $71.47/bbl in FY24.
In the green energy segment, the company’s subsidiary ONGC Green has added 2.345 GW (operating + under construction) renewable energy capacity in FY25 by acquiring 100% equity stake in PTC Energy and 50% equity stake in Ayana Renewable Power through its joint venture ONGC NTPC Green (ONGPL).