Q2 2025 Oil and Natural Gas Corporation Ltd Earnings Call Transcript
Key Points
- Oil & Natural Gas Corp Ltd (BOM:500312) reported a 17.1% increase in net profit for Q2 FY25, reaching INR11,984 crores compared to INR10,238 crores in Q2 FY24.
- The company has successfully reversed the declining trend in its crude oil production, with a 0.7% increase in Q2 FY25 over the same period last year.
- ONGC's Board approved an interim dividend of 120%, amounting to INR6 per share, reflecting strong shareholder returns.
- The government has approved additional investment in OPaL, increasing ONGC's stake to 95.69%, which is expected to enhance sustainability.
- The company has made significant progress in its KG-DWN 98/2 project, with oil production reaching over 25,000 barrels per day and plans to further increase output.
- Sales revenue for Q2 FY25 decreased by 3.5% due to lower crude prices, impacting overall financial performance.
- Consolidated net profit for Q2 FY25 fell by 39.92% compared to the previous year, primarily due to reduced profits from subsidiaries HPCL and MRPL.
- Operating expenditure increased by 4.5% in Q2 FY25, driven by higher activities and maintenance costs.
- The realization of crude in rupee terms decreased by 3.4% in Q2 FY25 compared to the previous year, affecting revenue.
- The company's exploration costs have risen, with an increase of INR631 crores in H1 FY25, impacting profitability.
Good afternoon, ladies and gentlemen. I'm Felicia, moderator for the conference call. Welcome to ONGC's Q2 FY25 earnings conference call. We have with us today Mr. Vivek Tongaonkar, Director Finance, and team who will interact with investors and analysts to discuss Q2 earnings.
(Operator Instructions) Please note that this conference is recorded. I would now like to hand over the floor to Mr. Vivek Tongaonkar for his opening remarks. Thank you, and over to you, sir.
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Yeah, thank you very much. Good afternoon, ladies and gentlemen. To introduce, I'm Vivek Tongaonkar, Director Finance, ONGC. I welcome you all in this ONGC earnings call for Q2 and H1 ended financial year '25. Thank you all for joining us on this call.
I'm joined over here by my colleagues from ONGC, Mr. Ajay Kumar Singh, who is our Chief Corporate Planning; Mr. Satish Kumar Dwivedi, our Chief JV NBD; Mr. Devendra Kumar, Chief Corporate Finance; Mr. Akhilesh Tiwari,
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