Embed Code : ONGC Q4 results: Net profit falls 35% to ₹6,448 cr on lower oil, gas prices

ONGC produced 4.7 million tonnes of crude oil in the quarter, marginally lower than 4.714 million tonnes in January-March 2024

State-owned Oil and Natural Gas Corporation (ONGC) reported a 35 per cent drop in its March quarter net profit as it realised lower oil prices on almost static output.

 

Net profit stood at Rs 6,448 crore in January-March - the fourth quarter of FY25 (April 2024 to March 2025 ) - compared to Rs 9,869 crore in the same period last year, according to a company statement.

 

The firm got $73.72 per barrel of crude oil that it produced and sold to refiners for processing into petrol and diesel in the fourth quarter, down from $80.81 per barrel a year back.

 

Production of natural gas, which is used to generate electricity, make fertiliser and turned into CNG as well as used for cooking in kitchens, was lower at 4.893 Billion Cubic Metres (BCM) in Q4 as opposed to 4.951 BCM.

 

Oil price realisation was down 4.8 per cent at an average of $76.90 per barrel in the full financial year.

 

Gas price in Q4 and the full fiscal year was unchanged at $6.5 per million British thermal unit.

 

"The standalone crude oil production during FY25 was 18.558 million tonnes with an increase of 0.9 per cent over FY24. The standalone natural gas production was 19.654 BCM in FY25 as against 19.978 BCM in FY24," ONGC said.

 

ONGC said it drilled 578 wells, the highest recorded in the past 35 years, comprising 109 exploratory and 469 development wells. The firm had drilled 544 wells in the previous 2023-24 fiscal year.