ONGC Q1 results FY27: Oil and Natural Gas Corporation (ONGC) on Tuesday had reported a sharp rise in standalone net profit for the June quarter, while consolidated earnings declined due to losses at subsidiary HPCL.
ONGC Q1 results FY27
Standalone performance surges
According to the exchange filing, ONGC’s standalone net profit jumped 112.3 per cent YoY to Rs17,034 crore in Q1 FY27, compared with Rs 8,024 crore in the same quarter last year. Gross revenue rose 45.2 per cent to Rs 46,460 crore from Rs 32,003 crore a year earlier. The company also recorded its highest-ever quarterly Profit Before Tax (PBT).
Consolidated numbers declines
On a consolidated basis, net profit fell 43.3 per cent YoY to Rs 6,554 crore from Rs 11,554 crore in Q1 FY26. Consolidated gross revenue, however, grew 25.7 per cent to Rs 2,04,987 crore from Rs 1,63,106 crore. The decline in group profit was largely driven by HPCL’s consolidated net loss of Rs 12,265 crore, mainly on account of under-recoveries on petroleum products following a sharp rise in crude oil prices due to the West Asia crisis, according to exchange filing.
Other subsidiaries, including ONGC Videsh and MRPL, contributed positively.
