ONGC share price drops 3% after standalone net profit rises 3% for Q4FY26

Shares of India’s leading oil exploration and upstream company, ONGC Ltd, opened nearly 2% lower on Wednesday after the company announced its fourth quarter results after market hours on Tuesday. After opening 2% lower at ₹284 apiece, the shares extended the fall to hit an intraday low of ₹274 apiece on the NSE.

Oil and Natural Gas Corporation (ONGC) has reported 53% rise in its consolidated net profit at ₹13,678 crore for the fourth quarter ended March 31, 2026 (Q4FY26) as compared to ₹6,470 crore for the same quarter in the previous year. Total income of the company increased by 3.74% at ₹177,172 crore for Q4FY26 as compared to ₹170,784.34 crore for the corresponding quarter of the previous year.

On a standalone basis, the company has reported 3.13% rise in its net profit at ₹6,649.97 crore for Q4FY26 as compared to ₹6,448.28 crore for the same quarter in the previous year. Total income of the company increased by 4.05% at ₹38,555.91 crore for Q4FY26 as compared to ₹37,056.92 crore for the corresponding quarter of the previous year. The company holds the highest projects under progress at ₹33,075 crore in the western offshore.

For FY26, the company’s revenue for the year remained largely flat at ₹6.62 lakh crore as compared to ₹6.63 lakh crore in the previous year. The muted revenue growth was largely due to a sharp drawdown in the realisations per barrel. The net realisation per barrel increased from $76.9 per barrel to $68.4 per barrel, down 11%.

On the bottom line front, the company’s net profit for the year jumped 29.9% to ₹49,793 crore as compared to ₹38,329 crore.

In addition to robust results, the company also announced a dividend of ₹13.5 per share with a payout ratio of 51%.

The share price has delivered 17% returns on a YTD basis after crude oil prices spiked by over 60% in the last quarter of FY2026.