ONGC Posts Highest H1 Profit
Rigzone · Jov Onsat ·
The Indian state-owned company reported around $3.46 billion in net income for the first half of its 2027 financial year, up 82 percent from the same six-month period of the prior year as high realized oil and gas prices offset lower production.
Oil and Natural Gas Corp Ltd (ONGC) on Thursday reported INR 325.22 billion (around $3.46 billion) in net income for the first half (H1) of its 2027 financial year, up 82 percent from the same six-month period of the prior year as high realized oil and gas prices offset lower production.
The figure for the April-September 2026 period is the Indian state-owned company's highest H1 net profit, it said in a press release. Quarterly net profit rose 57.3 percent year-on-year to INR 154.89 billion for Q2 FY2027.
ONGC declared a record interim dividend of INR 8 per INR 5 of shareholding. "The total payout on this account will be INR 10,064 crore [INR 100.64 billion] which is the highest-ever dividend paid in a single instalment", ONGC said.