Oil and Natural Gas Corporation (ONGC) declared a ₹10,064 crore interim dividend after standalone profit fell 9.1% from the June quarter, though it was 57.3% higher than a year earlier.
For July-September, the second quarter of fiscal 2026-27, standalone net profit totaled ₹15,488.64 crore (₹154.89 billion). That compares with ₹17,033.81 crore in April-June and ₹9,847.97 crore in the same quarter a year earlier.
Revenue from operations was ₹43,875.15 crore (₹438.75 billion). It declined 5.6% from the previous quarter's ₹46,460.45 crore and increased 32.8% from ₹33,030.56 crore a year earlier.
The board approved an interim dividend of ₹8 for each equity share, which has a face value of ₹5. ONGC said the ₹10,064 crore payout set a record for an interim dividend announced in one installment. Shareholders on the register Nov. 12 are eligible, and payment is due within 30 days of the declaration. The board acted at its Nov. 5 meeting, which EconoTimes previewed in an earlier report on the planned results review.
At the consolidated level, net profit rose 46.9% year over year to ₹18,534.82 crore from ₹12,614.60 crore. The board also approved a five-year inter-corporate loan facility for ONGC Videsh Limited, its wholly owned subsidiary, with the outstanding balance capped at ₹10,000 crore.
ONGC said production changed little between the June and September quarters. For the year-over-year moderation, it cited reservoir complexities at KG-98/2, monsoon-related operating difficulties, delayed work on pipeline replacement projects PRP-8 and PRP-9, and lower customer offtake of onshore gas.
The results were unaudited and included limited-review reports. With independent directors unavailable, the Audit Committee remained unreconstituted; auditors said the board then took up the results for review and approval. The dividend record date is Nov. 12, with payment expected within 30 days of the declaration.
