Oil and Natural Gas Corporation Ltd (ONGC) on November 11 reported 17% jump in consolidated net profit at Rs 11,984 crore for the quarter ended September 30, 2024. The oil PSU reported standalone net profit of Rs 10,238 crore in the year-ago period.

On a consolidated basis, ONGC's net profit fell 64% to Rs 9,878 crore

The company's standalone revenue from operations declined 4% to Rs 33,881 crore  as compared to Rs 35,163 crore .

ONGC  said its board declared first interim dividend of Rs 6 per share.

"The Board of Directors has declared 1st Interim dividend at the rate Rs 6 per equity share of face value of Rs 5 each i.e. @120% for the Financial Year 2024-25. As informed vide letter dated 06.11.2024, Wednesday, the 20th November, 2024 has been fixed as “Record Date” for determining eligibility of shareholders for payment of 1st Interim Dividend," said ONGC in a stock exchange filing.

On November 11, ONGC's shares on BSE closed 2% lower at Rs 257.25 apiece.

Crude oil price realisation from ONGC’s nominated fields was $78.33 a barrel compared to $84.84 in the previous year.

Its crude production increased 0.7 percent from last year at 4.576 million metric tonnes (MMT). Gas production however was down 2.1 percent at 4.912 BCM, the company said in a release.

Update on Cluster-II production

ONGC said the three oil wells of A-field of deepwater block  were opened on 30th October 2024, thereby enhancing total oil production to about 25,000 BOPD from eight flowing wells of cluster-II.

The company plans to open the remaining five oil wells shortly, it said.

Published On - November 11, 2024 / 19:26 IST

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