Shares of Oil and Natural Gas Corporation ( ONGC) slipped by 1.3% to an intraday low of Rs 245.50 on the BSE on Thursday, May 22, after the company reported a 35% year-on-year decline in consolidated net profit to Rs 6,448 crore for the fourth quarter ended March 31, 2025.
The fall in profits was attributed to a significant increase in exploratory cost write-offs, which rose to Rs 4,173 crore during the quarter from Rs 794 crore in the same period last year.
Despite the drop in profit, revenue from operations increased 1% year-on-year to Rs 34,982 crore in Q4FY25. However, the full-year FY25 profit slipped 12% to Rs 35,610 crore, and total annual revenue fell 0.5% to Rs 1,37,846 crore.
ONGC’s board declared a final dividend of Rs 1.25 per share and also approved extending a corporate guarantee of up to Rs 20,000 crore to its subsidiary OPaL for debt raising.
The company realized an average crude oil price of $73.72 per barrel, down 9% from the previous year, while gas prices remained unchanged at $6.5 per mmbtu. Crude oil production saw a marginal annual increase of 0.9% to 18.56 million metric tonnes, and ONGC drilled 578 wells, the highest in 35 years.
Also read: IndusInd Bank utilizes Rs 1,325 crore contingency buffer amid accounting lapses and bad loan underreporting
ONGC share price performance
The stock of ONGC has declined 11.14% over the past 1 year, while it has gained 4.96% year-to-date (YTD). Over the last 6 months, the stock rose 2.70%, and the 3-month performance shows a gain of 3.69%. However, in the past 1 month, the stock recorded a marginal dip of 0.34%.
The shares of ONGC closed flat at Rs 248.75 on Wednesday on the BSE.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The fall in profits was attributed to a significant increase in exploratory cost write-offs, which rose to Rs 4,173 crore during the quarter from Rs 794 crore in the same period last year.
Despite the drop in profit, revenue from operations increased 1% year-on-year to Rs 34,982 crore in Q4FY25. However, the full-year FY25 profit slipped 12% to Rs 35,610 crore, and total annual revenue fell 0.5% to Rs 1,37,846 crore.
ONGC’s board declared a final dividend of Rs 1.25 per share and also approved extending a corporate guarantee of up to Rs 20,000 crore to its subsidiary OPaL for debt raising.
The company realized an average crude oil price of $73.72 per barrel, down 9% from the previous year, while gas prices remained unchanged at $6.5 per mmbtu. Crude oil production saw a marginal annual increase of 0.9% to 18.56 million metric tonnes, and ONGC drilled 578 wells, the highest in 35 years.
Also read: IndusInd Bank utilizes Rs 1,325 crore contingency buffer amid accounting lapses and bad loan underreporting
ONGC share price performance
The stock of ONGC has declined 11.14% over the past 1 year, while it has gained 4.96% year-to-date (YTD). Over the last 6 months, the stock rose 2.70%, and the 3-month performance shows a gain of 3.69%. However, in the past 1 month, the stock recorded a marginal dip of 0.34%.
The shares of ONGC closed flat at Rs 248.75 on Wednesday on the BSE.
( Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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