Oil and Natural Gas Corporation (ONGC) reported a strong set of consolidated earnings for the quarter ended March 31, 2026, supported by improved profitability across its exploration and refining businesses.
The state-run energy major posted revenue from operations of ₹1,73,805.19 crore in Q4FY26, compared to ₹1,67,749 crore in the corresponding quarter last year. Total income stood at ₹1,77,172.96 crore against ₹1,70,784 crore a year ago.
Consolidated net profit attributable to owners of the company surged to ₹10,819.65 crore during the March quarter from ₹7,431.14 crore reported in Q4FY25. Overall consolidated net profit came in at ₹13,677.87 crore compared to ₹8,964.67 crore in the year-ago period.
Profit before tax and exceptional items stood at ₹19,102.17 crore for Q4FY26, up from ₹13,263.97 crore in Q4FY25.
EBITDA for the quarter stood at ₹25,356.06 crore, compared with ₹21,766.09 crore in the corresponding quarter last year. EBITDA margin improved to 14.6% from 13%.
Total expenses during the quarter rose to ₹1,60,863.71 crore from ₹1,58,159.58 crore a year ago. Major expenses included cost of materials consumed at ₹53,080.75 crore, employee benefits expense at ₹18,313.65 crore, finance costs at ₹3,069.61 crore and depletion, depreciation, amortisation and impairment expenses at ₹9,344.97 crore.
Segment-wise, ONGC’s exploration and production (E&P) offshore business remained the largest contributor to profitability. The offshore E&P segment reported profit before tax and interest of ₹6,466.51 crore during Q4FY26, while the onshore E&P business contributed ₹989.47 crore.
The refining and marketing segment posted profit of ₹8,906.41 crore during the quarter, compared with ₹5,207.41 crore in Q4FY25, indicating a sharp improvement in downstream performance.
Petrochemicals business turned profitable during the quarter with segment profit of ₹456.18 crore, against a loss of ₹567.69 crore in the corresponding quarter last year.
Total segment revenue stood at ₹1,95,007.20 crore during Q4FY26, while revenue from operations after inter-segment adjustments came in at ₹1,73,805.19 crore.
Sequentially, consolidated net profit also improved from ₹11,946.42 crore reported in Q3FY26, while revenue from operations rose from ₹1,67,422.93 crore.
For the full financial year FY26, ONGC reported revenue from operations of ₹6,62,247.32 crore compared to ₹6,63,260.58 crore in FY25. Annual consolidated net profit attributable to owners stood at ₹41,424.38 crore versus ₹36,225.62 crore in the previous financial year.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.