https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

ONGC Reports 78% YoY Rise in Q4FY24 PAT, 4% QoQ Increase

ONGC's Board of Directors has recommended a final dividend of Rs 2.50 per share (50%), amounting to Rs 3,145 crore, in addition to an interim dividend of Rs 9.75 per share (195%).
Indian Masterminds Stories

State-run Oil and Natural Gas Corporation (ONGC) has reported a substantial year-on-year increase of 77.92% in its consolidated profit after tax (PAT) for the fourth quarter of the fiscal year 2023–24, reaching Rs 11,526.53 crore. This marks a 3.80% rise on a quarter-on-quarter basis. For the full fiscal year, ONGC’s consolidated net profit surged by 67.71%, amounting to Rs 57,100.84 crore.

The standalone net profit for Q4FY24 saw a dramatic rise, over 18 times higher year-on-year, from Rs 527.86 crore in Q4FY23 to Rs 9,869.37 crore. However, every quarter, the standalone PAT slightly declined by 0.23%. For the fiscal year 2023–24, the standalone net profit increased by 1.07% to Rs 40,525.96 crore.

Revenue from operations in Q4FY24 increased by nearly 2% to Rs 1,66,770.63 crore, compared to Rs 1,64,066.72 crore in the same period last year. The total income for the January-March quarter stood at Rs 1,69,875.25 crore, up 1.8% from Rs 1,66,725.12 crore in Q4 FY23.

Following the announcement of these results, ONGC’s shares rose by 1% to Rs 282 apiece from Rs 279 the previous day when the markets opened on Tuesday.

Dividend and Operational Highlights

ONGC’s Board of Directors has recommended a final dividend of Rs 2.50 per share (50%), amounting to Rs 3,145 crore, in addition to an interim dividend of Rs 9.75 per share (195%).

The net crude oil realization for Q4FY24 improved to $80.81 per barrel from $77.12 per barrel in Q4FY23. Crude oil production increased by 2.4% in Q4FY24 compared to the same quarter last year, while gas production saw a 3% decline.

Discoveries and Drilling Achievements

During FY24, ONGC made 11 discoveries—six on land and five offshore—in its operated acreages. These include six prospects (one on land and five offshore) and five new pool discoveries (all on land). Out of these, seven hydrocarbon discoveries were monetized within the fiscal year.

ONGC achieved a significant milestone by drilling 541 wells, the highest in the past 34 years, which included 103 exploratory and 438 development wells. The company’s capital expenditure for FY24 reached Rs 37,000 crore, marking the highest-ever utilization excluding acquisitions.

These results highlight ONGC’s strong financial performance and operational achievements, reinforcing its position as a leading player in the energy sector.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
ntpc_unchahar_
NTPC Unchahar Launches CSR Vocational Training Program for 40 Rural Youth in Partnership with CIPET
IAS Officers Indian Administrative Services IAS logo
S.P. Velumani Case: Centre’s Document Translation Rule Delaying Sanction to Prosecute IAS Officers, DVAC Tells Madras HC
Yogi Government
UP Govt vs Bureaucracy: Yogi Adityanath Issues Stern Warning to Civil Servants Over Ignoring Ministers, MLAs
Bihar cybercrime center EOU
Bihar to Get Dedicated Cybercrime Center Under EOU; ₹14.74 Crore Sanctioned
OIL and_HCL_Sign_MoU 
Oil India and Hindustan Copper Join Hands to Boost Critical Mineral Exploration for India’s Energy and Tech Future
Haryana gov resized
Haryana Govt Denies Sanction to Probe 4 IAS Officers in Faridabad MC Scam Cases
RITES ..
RITES Ltd Secures ₹78.65 Crore Rate Contract from NTPC for Leasing Diesel Locomotives
EPFO-logo-resized
EPFO Launches 'Passbook Lite' for Easy Access to PF Balance, Withdrawals & Contributions on Member Portal
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr. S.K
Technology Meets Ecology: IFS Dr S K Srivastava’s Game-Changing Innovations in Forest Management | Eco Warrior Awards 2025 Interview
IFS Uttam Kumar Sharma Interview
From Extinction to Exhilaration: The Untold Story and Future Vision of Project Cheetah | Led by IFS Uttam Kumar Sharma | Eco Warrior Awards 2025
K M Abharna IFS Eco Warrior Awards 2025
Meet K. M. Abharna, the IFS Officer Behind Avni’s Case and Vidya Balan’s Sherni Role
ADVERTISEMENT
UPSC Stories
Ishwarlal Gurjar UPSC
10th Grade Failure to Indian Police Service: Ishwarlal Gurjar’s UPSC Success Path
Read the inspiring journey of Ishwarlal Gurjar from a small village in Rajasthan to becoming an IPS officer....
IAS Minnu P M
“Lazy, Sleepy, Yet Determined”: Minnu P M’s Honest Take on Cracking UPSC
Minnu PM, once a clerk in Kerala Police, cleared UPSC with AIR 150 after five years of struggle. Her...
IPS Ashish Tiwari
From IIT and Investment Banking to Public Service, Meet IPS Ashish Tiwari 
Ashish Tiwari, IIT graduate and former investment banker, chose public service over global finance. As...
Social Media
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
Tamil Nadu Gaur Rescue
Tiruchirappalli Forest Officials Risk Lives to Rescue Juvenile Gaur; Video Shared by IAS Officer Goes Viral
Trichy forest and fire teams risk lives to rescue a juvenile Indian gaur; IAS officer Supriya Sahu shares...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
ntpc_unchahar_
NTPC Unchahar Launches CSR Vocational Training Program for 40 Rural Youth in Partnership with CIPET
IAS Officers Indian Administrative Services IAS logo
S.P. Velumani Case: Centre’s Document Translation Rule Delaying Sanction to Prosecute IAS Officers, DVAC Tells Madras HC
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr. S.K
IFS Uttam Kumar Sharma Interview
K M Abharna IFS Eco Warrior Awards 2025
ADVERTISEMENT
ADVERTISEMENT