ONGC Announces Q1 2026 Financial Results; Total Income Reaches ₹674,603 Crore
Oil and Natural Gas Corporation Limited (ONGC) has released its unaudited consolidated financial results for the quarter ended June 30, 2026. The results reflect significant operational scale across the group's diverse segments. Concurrently, the company reported a substantial level of contingent liabilities relating to disputed claims in key joint ventures and tax matters.The Consolidated Financial Results for the period show Total Income at ₹674,603.84 crore, with Net Profit for the quarter standing at 49,793.10 crore. This performance is presented against consolidated figures from the corresponding quarters of 2025 and the full year ending March 31, 2026.
A review of the company's core financial health metrics, as per the unaudited data, revealed that Total Debts to Total Assets stood at 0.18 for the quarter, showing stability compared to the prior year. The Operating Margin (%) stood at 4.58%.
Consolidated Financial Performance Summary (₹ in Crore)
The table below provides a detailed overview of ONGC's consolidated performance:| Particular | Quarter Ended June 30, 2026 | Quarter Ended March 31, 2026 | Quarter Ended June 30, 2025 | Year Ended March 31, 2026 |
|---|---|---|---|---|
| Total Income | 207,775.93 | 177,172.96 | 165,588.78 | 674,603.84 |
| Total Expenses (IV) | 201,833.13 | 160,863.71 | 149,833.75 | 581,634.51 |
| Profit Before Tax | 65,056.76 | 19,102.17 | 15,527.14 | 68,058.67 |
| Tax Expense | 4,58.01 | 4,962.21 | 3,954.37 | 17,829.85 |
| Profit for the Period (Net) | 6,554.44 | 13,677.87 | 11,554.21 | 49,793.10 |
Key Financial Ratios and Assets
Key ratios metrics derived from the statements include:| Ratio/Metric | Quarter Ended June 30, 2026 | Quarter Ended March 31, 2026 |
|---|---|---|
| Debt Equity Ratio | 0.39 | 0.35 |
| Current Liability Ratio | 0.48 | 0.44 |
| Total Debts to Total Assets | 0.20 | 0.18 |
| Net Profit Margin (%) | 3.20% | 7.87% |
Significant Operational and Financial Disclosures
The financial review included multiple notes detailing ongoing disputes and material items:- Joint Venture Arbitration: The company faces a contingent liability from the Directorate General of Hydrocarbons (DGH) concerning the Panna Mukta and Mid & South Tapti contract areas. The demand stands at USD 1,624.05 million equivalent to ₹15,365 Crore as on June 30, 2026, reflecting a derivative of the initial claim amount of ₹15,225 Crore as at March 31, 2026.
- Tax and Royalty Disputes: A provision of ₹20,450 Crore was recognized regarding disputed Service Tax/GST levied on royalty for crude oil and natural gas. Additionally, the company has disclosed a contingent liability amounting to ₹6,934 Crore pertaining to the share of taxes and interest from other joint venture partners in JV blocks where disputes exist.
- Foreign Trade Refund: The company has designated an amount of ₹2,088 Crore as good for recovery from the Directorate General of Foreign Trade, Government of India, relating to the refund of Terminal Excise Duty (TED).
- Block Control Dispute: Regarding the CB-OS/2 offshore oil and gas block, which was subject to dispute, the company effectively assumed operational control on July 22, 2026, following a court order. The company has conservatively recognized an impairment of ₹40 crore against the carrying value of assets in this Pre-NELP Joint Venture (JV) block due to the ongoing litigation.
Non-Convertible Debenture Details
The company holds unsecured Non-Convertible Debentures (NCDs), totaling ₹10,000 million as on June 30, 2026. Given that these debentures are unsecured, a security cover certificate is not applicable.---
Note: The unaudited financial results also reflect proportionate share in revenue amounting to Rs. 1,376.32 Crore and net profit/(loss) including other comprehensive income amounting to Rs. 515.26 Crore for the quarter ended June 30, 2026 from 27 blocks that were certified by management.
ONGC Stock Price Movement
Oil & Natural Gas Corporation Limited shares finished trading flat today, settling at ₹242 as of market close. The stock saw significant activity, with over 10.47 million shares traded throughout the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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