ONGC Share Price Dips Amidst Q1 Results and Crude Oil Volatility

The Oil and Natural Gas Corporation (ONGC) saw its share price drop by 0.26% to ₹241.38 in intraday trade, as investors weigh the company's robust standalone Q1 profit against a consolidated decline and falling crude oil prices.

For the quarter ended June 30, 2026, ONGC reported a standalone net profit surge of 112.3% year-on-year, reaching ₹17,034 crore. Standalone gross revenue also saw a significant increase of 45.2% to ₹46,460 crore.

The consolidated picture presented a contrasting view, with consolidated net profit declining by 43.3% to ₹6,554 crore due to a consolidated net loss of ₹12,265 crore reported by subsidiary HPCL, stemming from under-recoveries on petroleum products amidst increased crude oil prices.