ONGC Q2 net profit jumps 57% on higher crude realisations
India's ONGC lifted Q2 FY27 standalone profit 57.3% and approved record interim dividends, while crude and gas output declined year on year.
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what happened
Oil and Natural Gas Corporation reported a 57.3% year-on-year rise in standalone net profit for the second quarter of FY27, to Rs 15,489 crore, according to Moody's, which carried the report from ANI. The gain came from higher crude realisations: prices from nominated fields rose 37.1% to $92.33 per barrel, and joint venture fields rose 41.9% to $97.02.
The board approved an interim dividend of Rs 8 per share, a total payout of Rs 10,064 crore and the company's largest single-instalment dividend, with a record date of November 12. At the same time, standalone crude output fell to 4.437 million tonnes from 4.630 million, and gas output dropped to 4.839 billion cubic metres from 4.918 billion. ONGC blamed reservoir issues at KG-98/2, monsoon disruptions and delays in pipeline replacement.
why it matters
Two forces stand out for markets: strong realisations support the company's cash flow, while lower production limits volume growth. The record dividend and Rs 11,800 crore of offshore awards make the report relevant for investors in Indian energy stocks and for the oil price backdrop in Asia.
market impact
ONGC shares: record profit and dividend support the stock, lower output limits upside
- ONGC shares pressure up — record profit and large interim dividend
tags
instruments
sources
- ONGC Q2 net profit rises 57% to Rs 15,489 crore on higher crude realisations — Moody's, 5 November 2026 at 16:52 UTC
- ONGC Q2 profit rises 57% to ₹15,489 crore on higher crude oil realisations — Moody's, 5 November 2026 at 17:40 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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