ONGC declares results for Q1 FY’20: Posts Net Profit of INR 5,904 crore; records 3.7% increase in Gas Production Q-o-Q

Dated : 13 August 2019 06:24:01 PM

Highlights:

  • Gross Revenue INR 26,555 Crore
  • Records 3.7 % increase in Natural Gas production
  • Records 5.8 % increase in Value Added Products (VAP)
  • 4 discoveries made in Q1 FY’20

In its 321st Meeting held on 13th August, 2019, ONGC Board approved the results for First Quarter (Q1) of FY 2019-20 (FY’20) as detailed below:

1. Financial Performance (Standalone)

Particulars Q1
2019-20
Q1
2018-19
%
variation
FY’19
Gross Revenue (INR Crore) 26,555 27,213 (2.4) 1,09,655
Net Profit (INR Crore) 5,904 6,144 (3.9) 26,716
Crude Oil Price-Nominated
Net Realization (US$/bbl) 66.30 71.49 (7.3) 68.19
Net Realization (INR/bbl) 4,612 4,792 (3.8) 4,766
Crude Oil Price-JV
Realization (US$/bbl) 66.78 67.97 (1.8) 65.97
Realization (INR/bbl) 4,645 4,556 2.0 4,611
Gas Price
Price on GCV basis($/mmbtu) 3.69 3.06 20.6 3.21

2. Financial Performance (Consolidated)

Particulars Q1
2019-20
Q1
2018-19
%
variation
FY’19
Gross Revenue (INR Crore) 1,09,515 1,10,367 (0.8) 4,53,461
Net Profit (INR Crore) 7,043 9,318 (24.4) 33,887
Net Profit (INR Crore) - attributable to owners 6,694 8,287 (19.2) 30,495
owners        

3. Production Performance

Particulars Q1
2019-20
Q1
2018-19
%
variation
FY’19
Crude Oil–ONGC (MMT) 4.792 5.027 (4.7) 19.626
Crude Oil–JVs (MMT) 0.714 0.809 (11.7) 3.120
Condensate (MMT) 0.363 0.380 (4.5) 1.485
Total Crude Oil (MMT) 5.869 6.216 (5.6) 24.231
Gas – ONGC (BCM) 6.148 5.925 3.8 24.747
Gas – JVs (BCM) 0.272 0.268 1.5 1.063
Total Gas (BCM) 6.420 6.193 3.7 25.811
Value Added Products (KT) 917 867 5.8 3,641

4. Exploratory Performance

ONGC has made 4 discoveries (3 prospects and 1 pool) in Q1 FY’20. The details of latest discovery made subsequent to the last press release on 30.05.2019 is as under:

SD-12(SDAG) in Sundalbari-Agartala Dome PML,West Tripura

Exploratory well SD-12(SDAG) flowed gas @ 1,14,000 m3/day. This is the first Middle Bhuban sand that has been established in the Sundalbari field and opens up a new play for exploration which will give incentive for targeting deeper prospects in this area.

For further information, please visit our website www.ongcindia.com

Disclaimer

This Press Release is intended to apprise the public regarding the highlights of Unaudited Financial Results of ONGC for the quarter ended 30th June, 2019 approved by the Board of Directors in their meeting held on 13.08.2019, in addition to informing about other major and/or related highlights/developments which in view of the management may be considered as important. These are not to be taken as forward looking statements and may not be construed as guidance for future investment decisions by investors/stakeholders.

- Issued By:
Oil and Natural Gas Corporation Ltd
Corporate Communications, New Delhi,