ONGC Delivers Stellar Q2 FY'27 Results: Net Profit Soars 57%

ONGC ONGC’s standalone net profit skyrocketed 57.3% year-on-year to ₹15,489 crore, compared to ₹9,848 crore in the corresponding period of the previous fiscal. ONGC's Board of Directors officially approved the financial results in its 415th meeting held today. Record Financial Metrics and Massive Shareholder Return For the first half of the fiscal year (H1 FY'27), ONGC recorded its highest-ever H1 net profit of ₹32,522 crore, registering an impressive 82% growth from ₹17,872 crore in H1 FY'26. Standalone gross revenue for Q2 FY'27 expanded 32.8% to ₹43,875 crore. On a consolidated level, Q2 net profit expanded by 46.9% to ₹18,535 crore. The performance was significantly boosted by realized crude prices. Nomination crude price realization stood at $92.33 per barrel (up 37.1% YoY), while Joint Venture (JV) crude price realization reached $97.02 per barrel (up 41.9% YoY). Strategic Capital Expenditure and Field Enhancements, to secure long-term energy security, ONGC announced the award of major development projects in the Western Offshore region: Offshore Field Development: Two major projects valued at approximately ₹11,800 crore (MBOSN-2005-1, SD-4 & BS-17 along with additional development of Ratna-1 & NLM-14) were awarded to unlock an estimated 22 MMTOE of hydrocarbon reserves. Infrastructure Upgradation: The Pipeline Replacement Project-X (PRP-X) was awarded with a capital outlay exceeding ₹4,300 crore to replace ageing subsea pipelines, ensuring high asset integrity and operational safety. To address natural field declines in mature reservoirs, ONGC has scaled up its collaboration with global energy major bp as a Technical Service Provider (TSP) across the Western Offshore region.