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
Mazagaon Dock
Strategic Expansion: Mazagon Dock to Acquire 51% Stake in Sri Lanka’s Colombo Dockyard with $53 Million Investment
Sujata Saunik
Race Heats Up for Maharashtra Chief Secretary Post as Sujata Saunik Nears Retirement — Who Will Succeed Her? Top Contenders Revealed
Indian Bureaucracy News Latest
IRSEE Joyanta Chakraborty Repatriated for Promotion; Dr Deepak Bagla Appointed Mission Director of Atal Innovation Mission
SBI_resized
SBI Strengthens Co-Lending Partnership with Paisalo to Reach More Small Businesses in Tier 2, 3 and Rural India
Union Minister Hardeep Singh Puri
Rudrasagar Blowout Contained: Union Minister Hardeep Singh Puri Commends ONGC & International Experts for Swift, Safe Resolution
RCB Parade Stampede
RCB Victory Stampede: Suspended IPS Dayananda Deposes, Inquiry Report Expected Soon; Public Urged to Submit Evidence
ONGC_resized
ONGC Successfully Caps Rudrasagar Gas Well Blowout After 15 Days of Intensive Effort, Global Experts End Crisis
406951-supreme-court-of-india-sc
Limited Manpower: SC Stays MP High Court Order Mandating SP-Led Supervision of Serious Crime Probes, Asks State to Submit SOP
ADVERTISEMENT
ADVERTISEMENT
Videos
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
WhatsApp Image 2025-06-25 at 5.07
Why Has the DGCA Fined Air India Rs 5 Crore Since Privatisation?
Former Diplomat Ashok Sajjanhar
Iran Is Weakest Now, Needs a Face-Saver
ADVERTISEMENT
UPSC Stories
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
WhatsApp Image 2025-06-18 at 10.31
"I Just Wanted to Breathe Again": The Man Who Fought Death and Made It to UPSC
Struck by COVID at the peak of his UPSC prep, Devanand Telgote spent months on ECMO, unsure he'd live,...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Ex IRS C Rajendiran
Ex-IRS Officer C. Rajendiran Illuminates Thirukkural’s Timeless Wisdom in Exclusive Interview
Mazagaon Dock
Strategic Expansion: Mazagon Dock to Acquire 51% Stake in Sri Lanka’s Colombo Dockyard with $53 Million Investment
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Ex IRS C Rajendiran
WhatsApp Image 2025-06-25 at 5.07
Former Diplomat Ashok Sajjanhar
ADVERTISEMENT
ADVERTISEMENT