Oil and Natural Gas Corporation Ltd (ONGC) reported on Friday a standalone net profit of
₹10,216 crore in the July-September quarter, recording a 2% sequential rise. The state-owned Maharatna firm had reported a net profit of
₹10,015 in the April-June quarter. The net profit, however, came in below a
CNBC-TV18 poll estimate of
₹11,034 crore.
ONGC revenue rose 4% sequentially to ₹35,163 crore, rising from ₹33,814 crore it had recorded in the first quarter of the current financial year. The CNBC-TV18 poll had estimated revenue at ₹36,767 crore.
ONGC's earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 5.6% on a sequential basis to ₹18,359 crore, from ₹19,453 crore it had reported in the June quarter.
ONGC's margin also saw a 530 basis points sequential drop to 52.2% in the September quarter from 57.5% it had reported in Q1FY24.
ONGC dividend
ONGC also declared an interim dividend of Rs 5.75 per share for its shareholders and shared details on record and payout date.
"The Board of Directors has declared an Interim dividend at the rate ₹5.75 per equity share of the face value of ₹5/- each i.e. @ 115% for the Financial Year 2023-24. As informed vide letter dated 06.11.2023, Tuesday, the 21st November 2023 has been fixed as “Record Date” for determining the eligibility of shareholders for payment of Interim Dividend. The dividend will be paid to the eligible shareholders on or before 10.12.2023," the company said in an exchange filing.
