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Oil and Natural Gas (ONGC) investor relations material
Oil and Natural Gas Q1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Standalone revenue for Q1 FY 2026-27 rose over 45% year-over-year to INR 46,450 crore, with profit after tax up 112% to INR 17,034 crore, and highest ever quarterly profit before tax at INR 22,848 crore.
Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, with auditor review completed and no material misstatements identified.
Consolidated profit after tax was INR 6,554 crore, impacted by HPCL's net loss of INR 21,255 crore due to under-recoveries from high crude prices, partially offset by strong subsidiary performance.
Operational focus remains on gas portfolio transformation, mature offshore asset upgrades, and deepwater exploration, with significant progress in new well gas and renewable energy expansion.
Financial highlights
Standalone revenue from operations rose to ₹46,460.45 crore, up from ₹32,002.89 crore year-over-year.
Standalone net profit surged to ₹17,033.81 crore, compared to ₹6,649.97 crore in the same quarter last year.
Consolidated revenue from operations reached ₹204,987.35 crore, up from ₹163,106.33 crore year-over-year.
Consolidated net profit was ₹13,677.87 crore, up from ₹11,554.21 crore year-over-year.
Average crude price realization was $99.45 per barrel, with operating expenditure stable despite inflation and FX pressures.
Outlook and guidance
Standalone oil and gas production expected at 39 Mtoe for FY 2027 and 40 Mtoe for FY 2028, with a 50/50 oil-gas split.
Gas production to see upside from Daman, Tapti, and KG-DWN-98/2 projects, targeting 3 MMSCMD by Q4 and 6-7 MMSCMD by Q4 FY 2027-28.
CapEx guidance remains $3.5–4 billion annually, with exploration CapEx to rise due to Samudra Manthan.
No explicit forward-looking guidance provided; ongoing legal and regulatory matters may impact future results.
- Consolidated net profit rose to ₹49,793 crore, with record dividend and major liabilities outstanding.ONGC
Q4 25/26 - Q3 FY26 profit surged, record dividends declared, but major liabilities and global risks persist.ONGC
Q3 25/26 - Q2 FY26 profit up 28% YoY, major dividend, and renewables push amid legal and production risks.ONGC
Q2 25/26 - Net profit rose to ₹11,554.21 crore, with major renewable energy investment and legal risks.ONGC
Q1 25/26 - Q1 FY25 net profit declined despite higher revenue; legal risks and green CapEx remain key.ONGC
Q1 24/25 - Q2 FY25 profit up 17.1% YoY; strong cash flow, OPAL acquisition, and legal risks persist.ONGC
Q2 24/25 - FY25 net profit dropped to INR 38,329 crore as write-offs rose and renewables expanded.ONGC
Q4 24/25 - Production up, OPaL consolidated, strong CapEx, and green energy targets drive future growth.ONGC
Q3 24/25
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