ONGC's April-June quarter of 2025-26 (Q1FY26) results were disappointing but the hopes of production growth down the line and ONGC Petro additions (OPaL) moving towards breakeven could keep investors interested. Standalone oil sales were down 3 per cent quarter-on-quarter (Q-o-Q) and gas was flat Q-o-Q while lower oil price realisation of $66.1 per barrel in Q1 vs $73.7 per barrel in Q4FY25 resulted in revenues of ₹32,000 crore , down 9 per cent Q-o-Q and slightly below consensus.
The operating profit of ₹18,660 crore down 2 per cent Q-o-Q was slightly better than consensus. Net profit stood at ₹8,020 crore,

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