Oil And Natural Gas Corporation shares today witnessed surge of 2.26% on Bombay Stock Exchange (BSE) as it declared its Q3 financial results and recommended interim dividend. Last trading price of ONGC shares stood at Rs 262.50 per share. The company today declared a decline of 19% year-on-year (YoY) in its consolidated net profit for the quarter ended December 31, 2024 at Rs 8622 crore.
The company had declared its net profit at Rs 10,703 crore in the corresponding quarter of last year, according to the BSE filing. Its market capitalisation is Rs 3,30,232.33 crore and return on equity (ROE) is 11.94%. Life insurance corporation of India (LIC) has stake of 9.29% in ONGC as on December 2024 quarter. Check key details pertaining to ONGC below:
ONGC Declares Dividend
According to the exchange filing of the Maharatna PSU dated January 31, 2025, “the Board of Directors has declared 2nd Interim dividend at the rate Rs 5/- per equity share of face value of Rs 5/- each i.e. @100% for the Financial Year 2024-25.
ONGC Sets Record Date For Dividend
The exchange filing added, “As informed vide letter dated 23.01.2025, Friday, the 7 th February, 2025 has been fixed as “Record Date” for determining eligibility of shareholders for payment of 2nd Interim Dividend.”
ONGC Q3 Results
The company declared its Q3FY25 revenue from operations at Rs 1,66,097 crore, down 0.75% as against Rs 1,67,357 crore reported in the similar quarter of last year. ONGC declared that the crude oil realization for the quarter under review stood at Rs 6,130 crore per BBL as compared to Rs 6,755 crore for Q3FY24.
According to its BSE filing, (“ONGC has been able to reverse the decline and increase is visible in the gas production as well. The standalone natural gas production during Q3 FY 25 was 4.978 BCM registering a growth of 0.3 % over Q3 FY 24. In particular for the month of Dec 2024, the gas production was up by 0.9% over Dec 2023.”
The exchange filing added, “with focus to enhance operational efficiency, ONGC has been able to maintain the increasing trend in crude oil production for two consecutive quarters. The standalone crude oil production (excluding condensate) during Q3 FY 25 was 4.653 MMT, registering a growth of 2.2% over corresponding quarter of FY 24. Similarly, the standalone crude oil production during 9M FY25 was 13.858 MMT with an increase of 1.2% over 9M FY24. In Dec 2024, the growth in standalone crude oil production was 5.4% over Dec 2023.”
Should You Buy ONGC Shares?
According to A R Ramachandran, SEBI registered Independent research analyst, “ONGC stock price is bullish on the Daily charts with strong support at 255. A Daily close above resistance of 257 could lead to a target of 277 in the near term.”
ONGC Dividend History
Oil And Natural Gas Corporation recommended a total of 60 dividends since August 29, 2000. In last 1-year duration, ONGC recommended an equity dividend amounting to Rs 12.50 per share. At the current share price of Rs 262.50, ONGC offers a dividend yield of 4.76%.
ONGC Share Performance
The 52-week high price of ONGC share on BSE is Rs 344.60 per share (as on 01/08/2024) and 52-week low price is Rs 227.00 per share (as on 04/06/2024), respectively. ONGC shares gained 2.44% in last 1-week, soared over 10% year-to-date (YTD), slipped more than 21% in last 6-months, and zoomed 3.98% in last 1-year. In last 5-years, Oil And Natural Gas Corporation shares rallied 141.05%.
ONGC Stock Split History
ONGC sub-divided its face value once since February 8, 2011. The oil PSU last split the face value of its shares from Rs 10 to Rs 5 in 2011.The share traded ex-split as on February 8, 2011.
ONGC Bonus Share History
ONGC recommended a total of 3 bonus issues since October 27, 2006. The last Bonus that ONGC offered was in the ratio of 1:2 with ex-date set as December 15, 2016.
About
Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, HPCL and MRPL (Last two are subsidiaries of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas LPG, as per its official website.
Disclaimer
The stock has been picked from the brokerage report of AR Ramchandran. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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