ONGC को पहली तिमाही में ₹9,936 करोड़ का मुनाफा: सालाना आधार पर 32% कम हुआ, कॉन्सोलिडेटेड रेवेन्यू 1.68% बढ़कर ₹1.66 लाख करोड़ रहा

Oil and Natural Gas Corporation i.e. ONGC has made a net profit (consolidated net profit) of Rs 9,936 crore in the first quarter of the financial year 2024-25. It has decreased by 32% on an annual basis. In the same quarter a year ago, the company had recorded a profit of Rs 14,644 crore.

ONGC’s consolidated operational revenue (income) stood at Rs 1,66,577 crore (Rs 1.67 lakh crore) in the April-June quarter. It has increased by 1.68% on an annual basis. In the same quarter a year ago (April-June 2023), the company had earned Rs 1,63,824 crore (Rs 1.64 lakh crore).

What is standalone and consolidated?
Companies release their financial results in two parts – standalone and consolidated. In standalone, the financial performance of only one unit is shown. Whereas, in consolidated or consolidated financial report, the report of the entire company is given.

Here, ONGC has 6 subsidiaries, 6 joint ventures and 3 associates. The financial reports of all these will be called consolidated. Whereas, the separate results of ONGC will be called standalone.

ONGC shares gave 78.66% return in one year
Before the first quarter results, ONGC’s stock closed at Rs 309 today i.e. Monday 5 August after falling 6.39%. In the last one month, the company’s stock has given a return of 7.22%, 17.51% in 6 months and 78.66% in one year. This year, i.e. from January 1 till now, ONGC’s stock has risen 50.47%. The company’s market cap is Rs 3.90 lakh crore.

ONGC shares closed at Rs 309 today i.e. Monday, August 5 after falling 6.39%.

ONGC contributes about 71% to Indian domestic production
Maharatna ONGC is India’s largest producer of crude oil and natural gas. It contributes about 71% of India’s domestic production. ONGC produces crude oil which is used as raw material in Indian Oil Corporation (IOC), BPCL, HPCL and MRPL companies. These companies manufacture petroleum products like petrol, diesel, kerosene, naphtha and cooking gas LPG.

ONGC was established in the 1960s. ONGC was founded in 1955 as the Oil and Gas Division under the Geological Survey of India. A few months later, it was converted into the Oil and Natural Gas Directorate. On 14 August 1956, the directorate was converted into a commission and named the Oil and Natural Gas Commission.

In 1994, the Oil and Natural Gas Commission was converted into a corporation, and in 1997 it was recognized as one of the Navaratnas by the Government of India. Subsequently, it was given the status of Maharatna in the year 2010.