Maharatna PSU Oil and Natural Gas Corporation (ONGC) has announced that its Board of Directors will meet on May 21, 2025, to consider and approve the audited financial results for the fourth quarter and the full financial year ended March 31, 2025. The board will also deliberate on the recommendation of a final dividend for FY25.
The company has formally notified the National Stock Exchange of India and BSE Ltd regarding the scheduled board meeting. In an official statement, ONGC said the meeting would evaluate both standalone and consolidated financial statements for Q4 and FY25.
The announcement comes at a time when upstream oil and gas producers are facing pressure from declining crude oil prices, which could affect their net oil realizations. On the other hand, improved gas prices and production volumes remain crucial factors for sustaining earnings momentum.
According to a result preview by Motilal Oswal Financial Services (MOFSL), ONGC’s oil and gas sales volumes are expected to have declined by 4% to 8% sequentially in Q4 due to lower production. The brokerage forecasts ONGC’s net profit for Q4 FY25 at approximately Rs. 8,250 crore—comparable to Rs. 8,240 crore in the preceding quarter, but significantly higher than Rs. 98.7 crore reported in the same quarter last year.
MOFSL highlighted that key aspects to watch in the upcoming results include updates on gas production ramp-up. The brokerage also flagged potential downside risks such as delays in achieving peak oil production from the KG Basin and any fall in global crude oil prices below $70 per barrel.
The final dividend, if declared, will be subject to shareholders’ approval at the ensuing Annual General Meeting.
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