ONGC Q1 Results: Profit Falls 11.19%, Gas Production Declines 4%
The state-run crude oil producer's consolidated net profit declined 11.19% sequentially to Rs 10,235.64 crore in the quarter-ended June.
Oil and Natural Gas Corp.'s net profit fell in the first quarter of fiscal 2025.
The state-run crude oil producer's consolidated net profit declined 11.19% sequentially to Rs 10,235.6 crore in the quarter-ended June, according to an exchange filing on Monday.
ONGC Q1 FY25 Highlights (Consolidated, QoQ)
Revenue flat at Rs 1.66 lakh crore.
Ebitda down 6% to Rs 21,794.27 crore versus Rs 23,225.21 crore.
Ebitda margin at 13.07% versus 13.92%.
Net profit down 11.19% to Rs 10,235.64 crore versus Rs 11,526.53.
Segment-Wise Performance
The company's offshore exploration and production segment saw revenue grow 3.41% quarter-on-quarter to Rs 24,187.24 crore, while the onshore segment revenue remained flat at Rs 10,996.45 crore.
Together, the exploration and production segment accounted for 19% of the company's total revenue.
The refining and marketing segment, which accounts for 79% of the company's consolidate revenue, saw a 1.7% sequential fall to Rs 1.48 lakh crore.
Production Performance
The oil production company's total crude oil production for the quarter fell 1.4% year-on-year to 5.237 million metric tonne, while its total gas production saw a 4.1% decline over the same period to 5.008 billion cubic meter.
The company's value-added product production saw a 1.3% annual uptick to 638 kilo tonne.
Realisations
The company's net realisation of nominates crude oil stood 8.8% higher this quarter at $83.05 per barrel as compared to $76.36 a year ago.
The net realisations on crude oil produced via joint ventures stood 14.2% higher at $80.64.
The gas realisations for the quarter stood 3.1% lower on an annual basis at $6.5 per million metric British thermal unit.
Shares of the company closed 6.39% lower at Rs 309 apiece, as compared to a 2.65% decline in the NSE Nifty 50.
