ONGC standalone profit jumps 112% as HPCL loss weighs on consolidated earnings
ONGC reported standalone Q1 FY2026-27 net profit of Rs 17,034 crore, up 112% year on year, on revenue growth of 45.2%. Consolidated earnings were pressured by HPCL’s Rs 12,265 crore loss from petroleum-product under-recoveries, while ONGC’s oil and gas output declined.
ONGC reported a 112% rise in standalone Q1 profit, while consolidated earnings were hit by HPCL’s Rs 12,265 crore loss from petroleum-product under-recoveries. Crude and gas output declined amid offshore disruptions, project commissioning activity and weaker gas offtake.
Why this matters
The result follows a recent ONGC signal reporting Q1 FY27 profit down 43% as HPCL under-recovery losses weighed on earnings, separating strong standalone profit growth from continued consolidated pressure.
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