ONGC reports Q4 profit at Rs 6,734 crore, realisation increases 18.4%

ONGC recommended a final dividend of Rs 1.85 per share, taking the total dividend for FY21 to Rs 3.60 per share.

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26 Aug, 2025 12:21

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Oil and Natural Gas Corporation (ONGC), on June 24, reported a standalone profit at Rs 6,734 crore for the quarter ended June 2021, driven by realisation.

The PSU oil & gas major posted a loss of Rs 3,214 crore in the year-ago quarter.

Gross revenue during the quarter declined 1.2 percent to Rs 21,189 crore compared to the corresponding period last fiscal, the company said in its BSE filing.

Net realisation increased by 18.4 percent to $58.05 a barrel in the March quarter, compared to $49.01 a barrel in the year-ago quarter, due to rising oil price amid hope for demand recovery following decline in COVID-19 cases.

In the full year, FY21, ONGC registered a 16.5 percent decline in profit at Rs 11,246 crore and 29.2 percent fall in gross revenue at Rs 68,141 crore, compared to the previous year.

"Despite country wide lock-down due to COVID-19 pandemic, ONGC has almost reached last year's production levels in case of crude oil from its operated blocks," said the company.

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The company further said, "The shortfall in natural gas production is primarily due to less offtake by customers due to COVID-19 pandemic. This has resulted in a production shortfall of condensate and value added products (VAP) as well."

ONGC said it had declared a total 10 discoveries (3 in onland, 7 in offshore) during FY21 in its operated acreages. "Out of these, 6 are prospects (1 in onland, 5 in offshore) and 4 are pools (2 in onland, 2 in offshore)."

With the monetization of Ashoknagar-1 discovery, "the Bengal basin became the eighth sedimentary basin of India from which hydrocarbon has commercially been produced. This has resulted in up-gradation of Bengal basin to Category-I basin as per the new three tier category -classification of sedimentary basins of India," said ONGC.

ONGC said it had recommended a final dividend of Rs 1.85 per share, taking the total dividend for FY21 to Rs 3.60 per share.