ONGC announced an all-round surge in Q3 FY’26, boosting both consolidated and standalone earnings. Consolidated net profit jumped by 23% to ₹ 11,946 crore. The Board declared a 2nd interim dividend of 125% (₹ 6.25 per share), taking the cumulative dividend for FY’26 to 245%. Key highlights include successful installation of mega structures for the KG-98/2 project and nearing gas production start for the Western Offshore Daman project.
Q3 FY’26 Financial Highlights: Consolidation Surge
ONGC’s Board, in its 405th meeting on 12th February 2026, approved robust financial results for the Third Quarter (Q3) of FY 2025-26. The company posted a consolidated net profit of ₹ 11,946 crore, marking an impressive increase of 23% over the previous corresponding period.
Consolidated Performance Snapshot (Q3)
The consolidated performance showed strong underlying health:
- Net Profit (₹ Crore): Grew from ₹ 9,747 crore (FY’25) to ₹ 11,946 crore (FY’26), a 22.56% variation.
- Gross Revenue (₹ Crore): Remained largely stable at ₹ 1,67,423 crore (FY’26) compared to ₹ 1,67,213 crore (FY’25).
Standalone Performance Snapshot (Q3)
Standalone performance also saw profit improvements:
- Net Profit (₹ Crore): Increased by 1.6% to ₹ 8,372 crore (FY’26) from ₹ 8,240 crore (FY’25).
- Gross Revenue (₹ Crore): Declined marginally to ₹ 31,546 crore (FY’26) versus ₹ 33,717 crore (FY’25).
Dividend Declaration and Cumulative Payout
The Board approved the 2nd interim dividend of 125%, equating to ₹ 6.25 on each equity share of ₹5, resulting in a total payout of ₹ 7,863 crore. This follows the 1st interim dividend of ₹ 6.00 per share (120%) declared in November 2025. The cumulative dividend for FY’26 now stands at 245%, and the total cumulative interim dividend declared by ONGC is a historic high of ₹ 15,411 crore. The Record Date for this dividend distribution is set for 18th February 2026.
Operational and Production Highlights
Production figures reflected steady operations across the 9M period:
- Standalone Crude Oil production rose by 0.35% during 9M FY’26, while Natural Gas production remained steady.
- Revenue from New Well Gas crossed ₹ 5,000 crore during the current FY’26, providing an additional ₹944 crore benefit compared to the APM gas price. New Well Gas now constitutes over 18% of total Gas sales revenue.
Key Project Progress
Several strategic projects moved forward significantly during the quarter:
- The TSP-1 initiative at Mumbai High Field is yielding encouraging results.
- For the KG-98/2 development, all imported mega structures and modules have been successfully installed at the Eastern Offshore.
- The Western Offshore Daman Upside Development Project is nearing its gas production start, supported by 4 major infrastructure projects nearing completion.
Exploration Milestones
Exploration activities yielded new monetized discoveries and significant data acquisition:
- ONGC monetized 2 hydrocarbon discoveries in Q3 FY’26: Anor (Gujarat) and Gojalia-14 (Tripura).
- Drilling commenced on AND-P-1, the first stratigraphic well in the ultra-deepwater Andaman Basin, spudded on 27th January-2026.
- The company acquired 735.82 LKM of 2D and 4484.59 SKM of 3D seismic data up to Q3 FY’26.
Strategic Agreements and Recognition
ONGC took major steps in securing future feedstock and received industry accolades:
- Executed a long-term Ethane (USH) Service Agreement with Petronet LNG, effective from Q4 2028, to handle 600 KTPA Ethane, securing feedstock for subsidiary OPaL.
- ONGC Joint Venture Companies signed contracts for two Indian-flag Very Large Ethane Carriers with Samsung Heavy Industries.
- The company received the Mahatma Award for Healthcare Excellence 2025 and the Best Fire Safe Upstream Award 2025 for its CSR and safety performance.
Source: BSE
