ONGC’s consolidated Q2 profits up 28%, declares ₹6 dividend

State-owned producer and explorer Oil and Natural Gas Company (ONGC) on Monday (November 10, 2025) reported consolidated net profits in the September-end quarter rose 28.2% to ₹12,615 crore on a year-over-year basis, aided by improved operating margins.

Operating margin in the reported quarter rose 275 basis points to 13.11% from the corresponding period last year with the net profit margin increase by 181 basis points to 7.99%.

The company also declared their first interim dividend of ₹6 on each equity share of ₹5. It would be payable November 14.

Notwithstanding the increase in consolidated profits, ONGC’s revenues took a marginal 0.9% hit to clock about ₹1.58 lakh crore during the mentioned period as the explorer navigates a lower price regime from the comparable period last year. On a standalone basis, the company’s crude oil price realisation dropped 14% on a year-over-year basis to ₹67.34 for every barrel.

Standalone crude production during the mentioned period increased 1.2% on a year-over-year basis to 4.63 million metric tonnes.

ONGC had stated in October that it expects oil prices to remain between $60-65/barrel for the next two to three years, barring “few ups and downs”, and sought to prepare itself accordingly. It is seeking to reduce 15% costs organisation-wide via varied optimisation measures. Primary focus areas include addressing logistical costs alongside enhancing efficiency and project execution.

E&P peer Oil India is scheduled to reported their earnings for the September-end quarter on November 14.

At the time of writing (Monday, 11:30 p.m. IST), Brent Crude futures were trading at $63.86 for barrel. Scrips of ONGC closed 0.24% lower at ₹251.35 apiece at the BSE on Monday, and 0.28% at ₹251.50 apiece on the NSE.