ONGC Q3 Results FY24-25 Highlights: Revenue dips to ₹166,096.68 Crore, Profit Rises to ₹9,783.64 Crore

Key Highlights/Quick Insights

• Revenue from Operations: ₹166,096.68 crore, reflecting a YoY decline from ₹167,356.63 crore.

• Total Income: ₹168,507.77 crore, compared to ₹171,113.09 crore in Q3 FY24.

• Profit Before Tax (PBT): ₹13,522.19 crore, marginally lower than ₹13,961.75 crore in Q3 FY24.

• Net Profit: ₹9,783.64 crore, compared to ₹10,511.23 crore in Q3 FY24.

• Operating Margin: 10.35%, slightly up from 10.26% in the previous year.

• Debt-to-Equity Ratio: 0.37, improving from 0.40 in the previous year.

Quarterly - ONGC Q3 Results FY24-25

Oil and Natural Gas Corporation (ONGC) reported consolidated revenue from operations at ₹166,096.68 crore for Q3 FY25, slightly lower than ₹167,356.63 crore in the corresponding quarter last year. The company’s net profit stood at ₹9,783.64 crore, reflecting a marginal dip compared to ₹10,511.23 crore in Q3 FY24.

Total expenses amounted to ₹154,620.90 crore, as ONGC maintained cost discipline despite challenges in raw material prices and production expenses. Finance costs rose to ₹3,669.74 crore this year from ₹3,203.18 crore in the previous one.

Also read: Larsen & Toubro (L&T) Q3 Results FY24-25 Highlights: Revenue surges 17% YoY to ₹64,668 Crore, PAT Climbs 14% YoY to ₹3,359 Crore

Segment Highlights

Exploration & Production (E&P)

• Offshore Revenue: ₹23,653.15 crore, marginally lower YoY than ₹23,834.01 crore.

• Onshore Revenue: ₹9,977.43 crore, showing a slight decline from ₹10,889.85 crore in Q3 FY24.

Refining & Marketing

• Revenue: ₹144,725.76 crore, down from ₹146,905.42 crore in the previous year.

• Profit Before Tax: ₹5,252.97 crore, a notable improvement over ₹492.09 crore Q2 FY25.

Petrochemicals

• Revenue: ₹3,693.12 crore, with slight fluctuations compared to previous quarters.

• PBT: Negative at ₹(540.87) crore due to higher input costs.

International Operations

• Revenue: ₹2,070.11 crore, reflecting a YoY decline from ₹2,440.25 crore.

• PBT: ₹315.05 crore, less than half of the ₹842.59 crore in the previous quarter.

Sector Expectations for ONGC 3Q Results FY24-25

ONGC experienced a slight decline in revenue and total income compared to the previous year. Profit before tax and net profit also showed a marginal drop, though operating margins improved slightly, indicating better cost efficiency. The company’s debt-to-equity ratio improved, signaling stronger financial stability, but total expenses increased due to rising finance costs and higher interest burdens.

Segment-wise, the exploration and production segment saw minor declines in both offshore and onshore revenue. The refining and marketing division reported slightly lower revenue, but a significant improvement in profit before tax, indicating better refining margins. The petrochemical segment remained stable in revenue but continued to face cost pressures, resulting in a negative profit outcome. International operations showed a decline in both revenue and profit, reflecting weaker performance in global markets.

Management Commentary

The financial report indicated a decline in revenue and net profit compared to the previous year. Operating margins showed a slight increase. The debt-to-equity ratio improved, while total expenses and finance costs increased. Per segment, exploration and production revenue declined across both offshore and onshore activities. The refining and marketing segment experienced reduced revenue but reported a notable rise in profit before tax. The petrochemical segment maintained steady revenue but remained in a loss-making position. International operations faced a downturn, with both revenue and profit declining compared to the previous year, indicating weaker market conditions abroad.

Financial Table: Consolidated Metrics

Source: ONGC’s Financial Data submitted on BSE.

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