News ArticleONGC Reports Record ₹15,489 Crore Net Profit in Q2 FY27 and Declares Highest Interim Dividend
Consolidated profit rises to ₹18,535 crore in Q2; Board approves ₹10,064 crore dividend and greenlights ₹11,800 crore offshore development projects
Oil and Natural Gas Corporation (ONGC) posted a standalone net profit of ₹15,489 crore for Q2 FY 2026-27, an increase of 57.3%, and a consolidated net profit of ₹18,535 crore, up by 46.9%. It declared the highest ever interim dividend of ₹10,064 crore (160% per share). ONGC awarded ₹11,800 crore in new offshore projects and notified two hydrocarbon discoveries during the quarter.
Oil and Natural Gas Corporation Limited
General / Other
Oil and Natural Gas Corporation Limited (ONGC) announced its Q2 FY 2026-27 financial results, reporting standalone net profit of ₹15,489 crore, a 57.3% increase over the previous year, and consolidated net profit of ₹18,535 crore. The company declared its highest interim dividend of ₹10,064 crore, representing ₹8 per equity share (160%).
During Q2 FY 2026-27, ONGC’s standalone gross revenue reached ₹43,875 crore, up 32.8% from ₹33,030 crore in the previous year’s quarter. The half-year standalone net profit rose to ₹32,522 crore, an 82.0% increase from ₹17,872 crore for the same period last year.
Consolidated gross revenue for Q2 FY 2026-27 was ₹1,98,263 crore compared to ₹1,57,914 crore a year earlier, up 25.6%. Consolidated net profit increased by 46.9% to ₹18,535 crore. Net profit attributable to owners was ₹16,744 crore, up 55.3%.
The Board approved an interim dividend of 160% (₹8 per equity share of ₹5), with a total payout of ₹10,064 crore, the highest ever single installment dividend. The record date for dividend distribution is 12th November 2026.
Crude oil production during Q2 stood at 4.437 MMT for ONGC standalone and 0.244 MMT for joint ventures, while natural gas production was 4.839 BCM standalone and 0.087 BCM from joint ventures. Production remained broadly stable compared to Q1 FY 2027 but was affected year on year by reservoir complexities and operational delays.
ONGC awarded two major Western Offshore development projects worth approximately ₹11,800 crore, expected to unlock 22 MMTOE of hydrocarbon potential, and initiated the ₹4,300 crore Pipeline Replacement Project to enhance infrastructure reliability. The company also notified two new hydrocarbon discoveries onshore, Amraghat-1 and Vadatal-48, expanding exploration opportunities.
Highlights
- Standalone Q2 FY27 net profit of ₹15,489 crore, up 57.3% year-over-year
- Consolidated Q2 net profit of ₹18,535 crore, increased 46.9% year-over-year
- Declared highest interim dividend ever: ₹10,064 crore (₹8 per share, 160%)
- Two offshore development projects awarded in Western Offshore, worth ₹11,800 crore
- Crude oil and natural gas production remained broadly stable in Q2 FY27
- Two new hydrocarbon discoveries notified in Q2 FY27 — Amraghat-1 (gas), Vadatal-48 (oil)
Key Data Snapshot
What happened
- ONGC reported standalone net profit of ₹15,489 crore for Q2 FY 2026-27, a 57.3% increase from Q2 FY 2025-26.
- Consolidated net profit rose 46.9% to ₹18,535 crore for the same period.
- The company declared its highest ever interim dividend of ₹10,064 crore (₹8 per share, 160%).
Key details
- Standalone gross revenue increased by 32.8% to ₹43,875 crore in Q2 FY 2026-27.
- Consolidated gross revenue increased by 25.6% to ₹1,98,263 crore in Q2 FY 2026-27.
- Crude oil and natural gas production during Q2 was broadly stable compared to previous quarter but saw a year-over-year decline due to operational challenges and reservoir complexities.
- Two major Western Offshore development projects awarded worth ₹11,800 crore expected to unlock 22 MMTOE hydrocarbon potential.
- Pipeline Replacement Project initiated with estimated cost over ₹4,300 crore to replace aging subsea pipelines.
- Two new hydrocarbon discoveries notified onshore during Q2 FY 2026-27: Amraghat-1 (gas prospect) and Vadatal-48 (new oil pool).
Transaction details
- Interim dividend of ₹8 per equity share (160%) approved, with total payout of ₹10,064 crore.
- Record date for dividend set at 12th November 2026 for distribution.
- Project awards for offshore developments and pipeline replacement involve significant capital investments supporting future production.
Regulatory and governance context
- Board of Directors approved the Q2 FY 2026-27 results and dividend on 5th November 2026.
- Dividend declaration and record date communicated to stock exchanges as per regulatory requirements.
Background and context
- Previous fiscal year and half-year performance used for year-on-year comparisons in revenue and profit.
- Prior asset and operational challenges noted including reservoir complexities and monsoon-related delays impacting production volumes.
Highlights
- Standalone Q2 FY27 net profit of ₹15,489 crore, up 57.3% year-over-year
- Consolidated Q2 net profit of ₹18,535 crore, increased 46.9% year-over-year
- Declared highest interim dividend ever: ₹10,064 crore (₹8 per share, 160%)
- Two offshore development projects awarded in Western Offshore, worth ₹11,800 crore
- Crude oil and natural gas production remained broadly stable in Q2 FY27
- Two new hydrocarbon discoveries notified in Q2 FY27 — Amraghat-1 (gas), Vadatal-48 (oil)
Disclosures
- Regulations under SEBI Listing Obligations and Disclosure Requirements, 2015
Source Information
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