ONGC has posted Q3 FY23 net profit of Rs. 11,045 crore, up 26% from Q3 FY22 and the company has declared a 2nd interim dividend of Rs. 4 per share. 

 

The company has reported gross revenue of Rs. 38,584 crore in Q3 FY23 up by 35.5% YoY. 

 

The Board has approved 2nd interim dividend of 80%, i.e. Rs. 4 on each equity share of Rs. 5 and the total payout on this account will be Rs. 5,032 crore. The record date for distribution of dividend has been fixed for 24th February, 2023 which has been intimated to the stock exchanges. This is in addition to the 1st interim dividend of Rs. 6.75 per share (135%) declared earlier in November, 2022.

 

Uncertainties and constraints across the global supply chain due to the Russia-Ukraine conflict have adversely affected the production of crude oil and gas. Significant peaks in energy prices, political stands of different nations in the aforementioned matter have significantly impacted energy productivity, affordability, and cost inflation, besides the lingering aftermath of the restrictive conditions due to the COVID pandemic.

 

ONGC has declared a total 7 discoveries (4 in onland and 3 in offshore) during FY 2022-23 so far in its operated acreages. Out of these, 2 (1 in onland and 1 in offshore) are prospects and 5 (3 in onland and 2 in offshore) are pools.