ONGC declares results for Q1 FY’26;
(1) Posts consolidated net profit of ₹ 11,554 crore, up by 18.2%
(2) Standalone crude oil production up by 1.2%
(3) New well gas revenue crosses ₹ 1,700 crore
In its 397th meeting held on 12 August 2025, ONGC Board approved the results for First Quarter (Q1) of FY 2025-26.
1. Financial Performance (Standalone)
| Particulars | Q1 2025-26 | Q1 2024-25 | % variation | FY’25 |
| Gross Revenue (₹ Crore) | 32,003 | 35,266 | (9.3) | 1,37,846 |
| Net Profit (₹ Crore) | 8,024 | 8,938 | (10.2) | 35,610 |
| Crude Oil Price-Nominated | ||||
| Net Realization (US$/bbl) | 66.13 | 83.05 | (20.4) | 76.90 |
| Net Realization (₹/bbl) | 5,658 | 6,928 | (18.3) | 6,503 |
| Crude Oil Price-JV | ||||
| Realization (US$/bbl) | 67.87 | 80.64 | (15.8) | 75.91 |
| Realization (₹/bbl) | 5,807 | 6,727 | (13.7) | 6,420 |
| Gas Price | ||||
| Price for Nomination gas ($/mmbtu) | 6.64 | 6.50 | 2.2 | 6.50 |
| New Well gas price($/mmbtu) | 8.26 | – | – | 9.08 |
Gas from new wells is eligible for a 20% premium over the domestic APM gas price. ONGC is actively working to boost output from such wells. In Q1 FY’26, revenue from new well gas stood at ₹1,703 crore, delivering an additional ₹333 crore compared to the APM gas price.
2. Financial Performance (Consolidated)
| Particulars | Q1 2025-26 | Q1 2024-25 | % variation | FY’25 |
| Gross Revenue (₹ Crore) | 1,63,108 | 1,68,968 | (3.5) | 6,63,262 |
| Net Profit (₹ Crore) | 11,554 | 9,776 | 18.2 | 38,329 |
| Net Profit (₹ Crore) – attributable to owners | 9,804 | 9,974 | (1.7) | 36,226 |
3. Production Performance
(i) The standalone crude oil production during Q1 FY’26 was 4.683 MMT with an increase of 1.2% over Q1FY’25. The Standalone natural gas production was 4.846 BCM in Q1FY’26 as against 4.863 BCM in Q1FY’25.
The detailed production performance of ONGC is as under:
* JVs operated by others
4. Exploration Performance
ONGC declared total 2 discoveries (both in offshore) during Q1 FY 2025-26 in its operated acreages. Out of these, one is prospect and one is pool discovery.
The details of discoveries notified in Q1 FY’2026 are as under:
(i) Vajramani: Exploratory well MBS181HNA-1 was drilled in OALP-III Block MB-OSHP-2018/1 Mumbai Offshore (SW) with the objective to explore hydrocarbon prospectivity of Mahuva sands, Daman Sand-60 and Panna Clastics. During production testing, Object-III in Mahuva Formation flowed Oil @ 2122 BPD and Gas @ 83120 m3/day. This discovery is an independent fault bounded nosal feature and lies in the western part of the block MB-OSHP-2018/1. The success in well MBS181HNA-1 was notified as New Prospect Discovery named as “Vajramani”.
(ii) MBS202HAA-1: In exploratory well MBS202HAA-1, object-II was tested in Mukta Formation which flowed oil @ 413 BPD and gas @ 15,132 m3/day. This hydrocarbon success in Mukta Formation was encountered for the first time in OALP Block MB-OSHP-2020/2 and was notified as “New Pool Discovery” of Suryamani prospect.
