Profit before tax (PBT) more than doubled to Rs 22,848.02 crore, registering a 112.7% YoY increase from Rs 10,744.33 crore reported in Q1 FY26.

During the quarter, ONGC's net crude oil realisation increased 50.4% YoY to $99.45 per barrel, while gas price realisation rose 5.4% YoY to $7 per MMBtu.

Despite improved price realisations, production remained under pressure. Crude oil production declined 4.93% YoY to 4.452 million metric tonnes (MMT), while natural gas production fell 1.85% YoY to 4.756 billion cubic metres (BCM) during the reporting period.

On a consolidated basis, ONGC reported a 21.4% YoY increase in net profit to Rs 11,898.93 crore, while revenue from operations grew 25.7% YoY to Rs 2,04,987.34 crore in Q1 FY27.

Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of December 2025.

The counter shed 0.91% to Rs 239.60 on the BSE.