ONGC profit surges 57% as oil and gas prices climb higher

Oil and Natural Gas Corporation Limited (ONGC) posted a net profit of ₹15,488.64 crore in the second quarter of fiscal year 2026-27, marking a 57% year-on-year increase driven by higher crude oil and natural gas prices in global markets.

Revenue from operations climbed to ₹43,875 crore during the three-month period ended September 30, 2026, reflecting improved realizations across the company's hydrocarbon portfolio. The strong quarterly result contributed to a near-doubling of profit during the first half of the fiscal year compared to the corresponding period last year.

The performance underscores ONGC's sensitivity to international commodity prices, with the state-run explorer benefiting from elevated oil and gas valuations amid global supply dynamics. As India's largest crude oil and natural gas producer, the company's financial health remains closely tied to energy price movements in international markets.

The results come as India seeks to boost domestic hydrocarbon production to reduce its dependence on imports and strengthen energy security. ONGC continues to pursue exploration and production activities across onshore and offshore assets to sustain output levels and meet domestic demand.