State-owned Oil and Natural Gas Corporation (ONGC) has reported an 18 per cent fall in its second-quarter net profit due to lower oil prices.
The company’s net profit stood at Rs 9,848 crore in July-September — the second quarter of 2025-26 financial year — compared to Rs 11,984 crore earnings in the same period a year back, ONGC said in a statement.
The fall in profit of India’s biggest oil explorer was primarily a decline in crude oil prices — from USD 78.33 per barrel in Q2 of FY25 to USD 67.34 in the current fiscal.
The crude oil that ONGC pumps from the ground and from beneath the seabed is sold to refineries, which process it into fuels like petrol and diesel.
Price of natural gas, which is used to generate electricity, produce fertilizer, power automobiles as CNG and used in household kitchens as cooking fuel, rose 3.8 per cent to USD 6.75 per million British thermal unit for legacy wells.
The rate for gas from new wells — which receives a premium to offset additional c
August 22, 2026
