ONGC Q2 net profit rises 17.1%

Standalone net profit in Q2FY25 rose to Rs 11,984 cr, up from Rs 10,238 cr in Q2FY24. ONGC reported net profit of Rs 20,922 cr in H1FY25

- SIMONTINI BHATTACHARJEE

State-owned Oil and Natural Gas Corporation (ONGC), India's leading energy producer, reported robust financial results for the second quarter (Q2) of the fiscal year 2024-25 at its 388th board meeting held on Monday. ONGC's standalone net profit surged by 17.1 per cent year-on-year to reach Rs 11,984 crore, up from Rs 10,238 crore in Q2 FY24.

This positive performance has been accompanied by the announcement of an interim dividend of Rs 6.00 per share, amounting to a total payout of Rs 7,548 crore. Shareholders on record as of November 20 will be eligible for this dividend.

The company's gross revenue in Q2 FY25, however, saw a slight dip, reaching Rs 35,162 crore, a decrease of 3.6 per cent compared to the previous year. Despite this, ONGC recorded a modest increase in its half-year revenue, reporting a 0.2 per cent rise year-on-year.