New Delhi: ONGC Board in its 347th meeting held on 11th February 2022, approved the results for Third Quarter (Q3) of FY 2021-22 (FY-22).
Major Highlights:
- Gross Revenue ₹ 28,474 crore in Q3 , up by 67.3%Q-o-Q
- Net profit ₹8,764 crore in Q3, up by 596.7% Q-o-Q
- 2ndInterim Dividend of ₹ 1.75 per share
The details are as under:
- Financial Results (Standalone)
| Q3 | 9 Months | Actual
FY’21 |
|||||
| FY’22 | FY’21 | % Var | FY’22 | FY’21 | % Var | ||
| Gross Revenue (₹Crore) | 28,474 | 17,024 | 67.3 | 75,849 | 46,953 | 61.5 | 68,141 |
| Net Profit (₹ Crore) | 8,764 | 1,258 | 596.7 | 31,446 | 4,512 | 596.9 | 11,246 |
| Crude Oil Price-Nominated | |||||||
| Realization (US$/bbl) | 75.73 | 43.20 | 75.3 | 70.26 | 37.74 | 86.2 | 42.78 |
| Realization (₹/bbl) | 5,677 | 3,186 | 78.2 | 5,218 | 2,816 | 85.3 | 3,174 |
| Crude Oil Price-JV | |||||||
| Realization (US$/bbl) | 75.76 | 43.91 | 72.5 | 71.19 | 38.77 | 83.6 | 43.87 |
| Realization (₹/bbl) | 5,679 | 3,238 | 75.4 | 5,287 | 2,893 | 82.8 | 3,255 |
| Gas Price | |||||||
| Price on GCV basis ($/mmbtu) | 2.90 | 1.79 | 62.0 | 2.16 | 2.19 | (1.4) | 2.09 |
During the nine months ended 31.12.2021, the Company had decided to opt for lower tax regime u/s 115BAA of the Income Tax Act, 1961,with effect from FY 2020-21. Accordingly, the Company has recognized provision for tax expenses and re-measured its net deferred tax liabilities. The net impact due to availing the option has resulted in decrease in deferred tax by ₹ 8,689 crore and decrease in current tax by ₹ 2,107 crore.
- Dividend
Board has approved 2nd interim dividend of 35%, i.e. ₹ 1.75 on each equity share of ₹5. The total payout on this account will be ₹ 2,201.55 Crore. The Record date for distribution of dividend has been fixed for 22nd February, 2022 which has been intimated to the stock exchanges. This is in addition to 1st interim dividend of ₹ 5.50 per share(110%) declared earlier in Nov,2021.
- Financial Performance (Consolidated)
| Q3 | 9 Months | Actual
FY’21 |
|||||
| FY’22 | FY’21 | % Var | FY’22 | FY’21 | % Var | ||
| Gross Revenue (₹ Crore) | 1,45,686 | 1,00,289 | 45.3 | 3,75,851 | 2,46,404 | 52.5 | 3,60,572 |
| Net Profit (₹ Crore) | 11,637 | 3,637 | 220.0 | 37,233 | 10,397 | 258.1 | 21,343 |
| Net Profit (₹ Crore) – attributable to owners | 10,932 | 2,518 | 334.2 | 34,972 | 6,845 | 410.9 | 16,249 |
- Production Performance
| Q3 | 9 Months | Actual | |||||
| FY’22 | FY’21 | % Var | FY’22 | FY’21 | % Var | FY’21 | |
| Crude Oil – ONGC(MMT) | 4.680 | 4.803 | (2.6) | 13.953 | 14.420 | (3.2) | 19.172 |
| Crude Oil – JVs (MMT) | 0.536 | 0.554 | (3.2) | 1.648 | 1.708 | (3.5) | 2.260 |
| Condensate (MMT) | 0.235 | 0.274 | (14.2) | 0.715 | 0.855 | (16.4) | 1.101 |
| Total Crude Oil (MMT) | 5.451 | 5.631 | (3.2) | 16.316 | 16.983 | (3.9) | 22.533 |
| Gas – ONGC (BCM) | 5.372 | 5.626 | (4.5) | 15.740 | 16.711 | (5.8) | 22.096 |
| Gas – JVs (BCM) | 0.192 | 0.183 | 4.9 | 0.600 | 0.522 | 14.9 | 0.720 |
| Total Gas (BCM) | 5.564 | 5.809 | (4.2) | 16.340 | 17.233 | (5.2) | 22.816 |
| Value Added Products (KT) | 763 | 809 | (5.7) | 2,336 | 2,355 | ||
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