New Delhi, January 31, 2025 – Oil and Natural Gas Corporation Limited (NSE: ONGC, BSE: 500312) announced its Q3 FY25 financial results, declaring a second interim dividend of ₹5 per share (100%) and approving the acquisition of a 26% stake in Mangalore SEZ Limited.
Key Financial Highlights (Standalone)
| Metric | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 |
|---|---|---|---|---|---|
| Revenue from Operations (₹ Cr) | 33,716.80 | 33,880.88 | 34,788.07 | 102,864.06 | 103,765.44 |
| Other Income (₹ Cr) | 1,811.00 | 4,765.64 | 3,400.69 | 8,637.53 | 7,098.22 |
| Total Income (₹ Cr) | 35,527.80 | 38,646.52 | 38,188.76 | 111,501.59 | 110,863.66 |
| Profit Before Tax (₹ Cr) | 11,000.26 | 15,036.00 | 12,610.33 | 37,992.38 | 40,155.83 |
| Net Profit (₹ Cr) | 8,239.92 | 11,984.02 | 9,891.71 | 29,162.04 | 30,656.59 |
| Earnings Per Share (₹) | 6.55 | 9.53 | 7.86 | 23.18 | 24.37 |
Segment-Wise Performance
- Offshore Operations: Revenue of ₹23,653.15 Cr in Q3 FY25, compared to ₹23,004.17 Cr in Q2 FY25.
- Onshore Operations: Revenue stood at ₹10,063.65 Cr, slightly lower than Q2's ₹10,876.71 Cr.
- Net Worth: Increased to ₹318,358.04 Cr as of December 31, 2024.
Dividend Announcement
The board approved a second interim dividend of ₹5 per share on a face value of ₹5 per share, maintaining a 100% payout. The record date for eligibility is February 7, 2025.Strategic Investments & Corporate Updates
- Mangalore SEZ Acquisition: ONGC will acquire 1.15 Cr shares of Mangalore SEZ Ltd. from Infrastructure Leasing & Financial Services Ltd. (IL&FS) for ₹56.11 Cr.
- ONGC Petro Additions Ltd. (OPaL) Stake Increase: ONGC has increased its ownership in OPaL to 95.69%, up from 49.36% in Q1 FY25, through conversion of debentures and fresh equity infusion.
Debt & Compliance
- ONGC holds ₹15,000 Cr in Unsecured Non-Convertible Debentures (NCDs) as of December 31, 2024.
- No outstanding secured debentures or defaults.
Legal & Regulatory Matters
- Panna-Mukta and Tapti Arbitration: ONGC has considered a contingent liability of ₹13,907 Cr due to pending arbitration over profit petroleum and royalty payments.
- GST on Royalty Dispute: ONGC has made a provision of ₹16,519 Cr for disputed GST liabilities while ₹6,009 Cr of partner liabilities remains a contingent liability.