Oil and Natural Gas
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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.
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Q1 26/27 earnings summary5 Aug, 2026

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.

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Frequently asked questions

Oil and Natural Gas Corporation Limited explores for, develops, and produces crude oil and natural gas in India. It operates through Oil and Gas Exploration; Crude Oil and Natural Gas Production; Marketing, Transportation, Storage, and Exports; Exploration Services; Manufacturing and Engineering Services; Network Operations; Corporate Development; International Business Development; and Corporate functions segments. Oil and Natural Gas Corporation Limited is headquartered in New Delhi, India.