ONGC Q2 FY27 Net Profit Soars 57.3% to ₹15,489 Cr; Declares Record 160% Interim Dividend
ONGC reported standalone net profit of ₹15,489 crore for Q2 FY27, up 57.3%. H1 FY27 net profit surged 82.0% to ₹32,522 crore. The company declared a record interim dividend of 160% (₹8 per share) totaling ₹10,064 crore. Two major development projects worth ₹11,800 crore were awarded in Western Offshore.
The record-breaking interim dividend, substantial capital expenditure on new projects, and strong financial performance are material events that are likely to have a significant impact on investors and the company's market position.
The company reported significant year-on-year growth in net profit and revenue, declared a record interim dividend, and awarded substantial development projects, all indicating strong financial performance and strategic growth initiatives.
Oil & Natural Gas Corporation Limited (ONGC) has announced its financial results for the second quarter (Q2) and the first half (H1) of the fiscal year 2026-27. The company reported a standalone net profit of ₹15,489 crore for Q2 FY27, marking a significant increase of 57.3% compared to the same period last year. For the first half of FY27, the standalone net profit reached ₹32,522 crore, an impressive 82.0% year-on-year growth.
On a consolidated basis, ONGC's net profit for Q2 FY27 stood at ₹18,535 crore, up by 46.9%. The consolidated net profit for H1 FY27 was ₹25,089 crore, showing a 3.8% increase. The company's standalone gross revenue for Q2 FY27 was ₹43,875 crore, a 32.8% rise, and for H1 FY27, it was ₹90,336 crore, up by 38.9%.
The Board of Directors, in its 415th meeting on November 5, 2026, approved the results and declared the highest-ever interim dividend of 160% (₹8 per share), amounting to a total payout of ₹10,064 crore. The record date for this dividend distribution has been set as November 12, 2026.
ONGC awarded two major development projects in Western Offshore, worth approximately ₹11,800 crore, aimed at unlocking an estimated 22 MMTOE of future production. Additionally, a Pipeline Replacement Project-X (PRP-X) was awarded with an estimated cost of over ₹4,300 crore to enhance asset integrity and operational reliability.
During Q2 FY27, ONGC notified two new hydrocarbon discoveries: Amraghat-1 (new prospect discovery) in Assam-Arakan fold belt and Vadatal-48 (new pool discovery) in Cambay basin. The company also reported drilling its first exploratory well, MNDWO181HDB-1, in the Mahanadi deepwater, which has been proved gas-bearing.
ONGC maintained broadly stable production during Q2 FY27 compared to Q1 FY27, though year-on-year production saw a moderation mainly due to reservoir complexities in KG-98/2 Asset and monsoon-related operational challenges. The company has scaled up engagement of M/s bp as Technical Service Provider for its Western Offshore assets to enhance production from mature fields.
In other highlights, ONGC assumed control of the CB-OS/2 block from July 22, 2026. The company and its subsidiaries/institutes received several awards, including the Global Decarbonization Award 2026 (Platinum Category), Best PSU Partner at PMIS Recognition of Partner Company Awards 2026, Global Sustainability Champion Award 2026 (Platinum Category), and multiple patents for technological innovations.
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