ONGC shares slip 4% despite 46% 4th quarter profit jump
Business
ONGC's shares slipped 4% to ₹277 on Wednesday, which is surprising since the company just posted a 46% jump in fourth-quarter net profit: ₹10,820 crore compared to ₹7,431 crore last year.
Revenue also edged up 4% year over year to ₹173,805 crore.
ONGC standalone profit ₹32,894cr fiscal 2026
ONGC's standalone profit for fiscal 2026 reached ₹32,894 crore.
Its subsidiary MRPL saw profits skyrocket from ₹51 crore last year to ₹1,931 crore this time, with refining margins improving too.
The company also poured projects worth ₹33,075 crore into Western Offshore projects and boosted gas production from new wells, now making up 17% of total output and 21% of revenue from its nomination gas portfolio.