New Delhi, May 27 State-run Oil and Natural Gas Corporation (ONGC), maharatna psu under the Ministry of Petroleum and Natural Gas on Tuesday reported a 53 per cent jump in consolidated net profit to ₹13,678 crore for the January-March quarter (Q4) of FY26, driven by improved performance across subsidiaries and strategic offshore developments.
The company’s consolidated gross revenue rose 3.6 per cent to ₹1,73,805 crore during the quarter. For the full financial year FY26, consolidated net profit increased nearly 30 per cent to ₹49,793 crore.
On a standalone basis, ONGC posted Q4 net profit of ₹6,650 crore, up 3.1 per cent from the year-ago period, while FY26 standalone profit stood at ₹32,894 crore.
The ONGC Board recommended a final dividend of ₹1 per share, taking the total FY26 dividend to ₹13.25 per share. The total payout stands at ₹16,669 crore, the highest in the company’s history.
ONGC said growth initiatives in Western Offshore are expected to support future production. The company has started gas monetisation from the Daman Upside Development Project (DUDP), which is expected to add nearly 9 per cent to current gas production. Projects worth ₹33,075 crore are currently under execution in the region.
The company also highlighted early success in Mumbai High after onboarding BP as technical service provider, with oil and gas production exceeding baseline targets. Following these results, ONGC plans to expand the partnership across Western Offshore.
During FY26, revenue from new well gas stood at ₹6,678 crore, contributing over 21 per cent of ONGC’s nomination gas revenue.
Among subsidiaries, HPCL, MRPL and OPaL reported strong operational and financial improvement, supporting ONGC’s overall performance. The company also continued its exploration push, reporting reserve accretion of 99.17 MMTOE at the group level and advancing deepwater exploration under Project DeepX.
