Mumbai, 6th August 2024: In its 384th meeting held on 5th August, 2024, ONGC Board approved the results for First Quarter (Q1) of FY 2024-25.
Major Highlights:
· Gross Revenue ₹ 35,266 crore in Q1
· Net profit ₹ 8,938 crore in Q1
· 5 Discoveries in FY’ 25 so far
Details are as under:
1. Financial Performance (Standalone)
| Particulars | Q1 2024-25 | Q1 2023-24 | % variation | FY’24 |
| Gross Revenue (₹ Crore) | 35,266 | 33,814 | 4.3 | 1,38,402 |
| Net Profit (₹ Crore) | 8,938 | 10,527 | (15.1) | 40,526 |
| Crude Oil Price-Nominated | ||||
| Net Realization (US$/bbl) | 83.05 | 76.36 | 8.8 | 80.77 |
| Net Realization (₹/bbl) | 6,928 | 6,277 | 10.4 | 6,687 |
| Crude Oil Price-JV | ||||
| Realization (US$/bbl) | 80.64 | 70.64 | 14.2 | 75.91 |
| Realization (₹/bbl) | 6,727 | 5,808 | 15.8 | 6,284 |
| Gas Price | ||||
| Price on GCV basis($/mmbtu) | 6.50 | 6.71 | (3.1) | 6.55 |
2. Financial Performance (Consolidated)
| Particulars | Q1 2024-25 | Q1 2023-24 | % variation | FY’24 |
| Gross Revenue (₹ Crore) | 1,66,577 | 1,63,824 | 1.7 | 6,43,037 |
| Net Profit (₹ Crore) | 10,236 | 17,893 | (42.8) | 57,101 |
| Net Profit (₹ Crore) – attributable to owners | 9,936 | 14,644 | (32.1) | 49,221 |
3. Production Performance
| Particulars | Q1 | Q1 | % | FY’24 |
| 2024-25 | 2023-24 | variation | ||
| Crude Oil–ONGC (MMT) | 4.629 | 4.590 | 0.8 | 18.401 |
| Crude Oil–JVs (MMT) | 0.353 | 0.446 | (20.9) | 1.668 |
| Condensate (MMT) | 0.255 | 0.275 | (7.3) | 1.070 |
| Total Crude Oil (MMT) | 5.237 | 5.311 | (1.4) | 21.139 |
| Gas – ONGC (BCM) | 4.860 | 5.043 | (3.6) | 19.973 |
| Gas – JVs (BCM) | 0.148 | 0.178 | (16.9) | 0.674 |
| Total Gas (BCM) | 5.008 | 5.221 | (4.1) | 20.647 |
| Value Added Products (KT) | 638 | 630 | 1.3 | 2,519 |
4. Exploratory Success:
a) ONGC has declared total 5 Discoveries in FY’ 25 so far. Since last press release on 20th May 2024, ONGC has declared 3 more discoveries (01 in onland and 02 in offshore) in its operated acreages. Out of these, 02 are prospect (1 in onland, 1 in offshore) and 1 is new pool (onland) discovery.
