ONGC Q2 Results: Net profit falls 9% sequentially, declares ₹8 interim dividend; misses estimates

ONGC reported a 9.1% sequential decline in Q2 net profit to ₹15,489 crore, with revenue down 5.6% to ₹43,875 crore and EBITDA falling 12.3% to ₹24,860 crore. The company awarded two Western Offshore development projects worth ₹11,800 crore to unlock 22 MMTOE of hydrocarbon potential and declared an interim dividend of ₹8 per share. It also announced two new onshore hydrocarbon discoveries.