ONGC Reports Mixed Financial Results for Q4 2024 Amid Rising Costs and Profit Decline

Oil & Natural Gas Corporation (ONGC) has reported its financial results for the quarter ending December 2024, revealing a complex picture of performance within the oil exploration and refinery sector. The company has experienced a notable adjustment in its evaluation, with its score shifting to -7 from -15 over the past three months.
In terms of operational metrics, ONGC achieved its highest operating profit in the last five quarters, reaching Rs 24,642.74 crore, indicating a positive near-term trend in operating profit. Additionally, the operating profit margin has also reached a peak of 14.84%, suggesting improvements in the company's efficiency.

Conversely, the financial results highlight challenges as well. The profit after tax (PAT) has decreased to Rs 8,621.69 crore, reflecting an 18.7% decline compared to the average PAT of the previous four quarters. Furthermore, interest expenses have risen significantly, totaling Rs 11,034.63 crore, which points to increased borrowing costs. The earnings per share (EPS) have also reached their lowest point in five quarters at Rs 6.85, indicating a decline in profitability for shareholders.

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