State-run oil giant Oil and Natural Gas Corporation (ONGC) is set to release its financial performance for the quarter ending December 2024 today, January 31. The announcement, which will include both standalone and consolidated financial statements, is one of the most awaited updates for investors in the oil and gas sector.
Here are some key things you need to know ahead of ONGC’s Q3FY25 result: 1. ONGC stock performance Vs Nifty 50
ONGC has a market capitalisation of Rs 3.23 lakh crore. Its stock has ranged from a 52-week high of Rs 345.00 to a low of Rs 223.00,
Over the past few days, ONGC share price has seen a decline of 2.19%, but it has gained 7.42% over the past month. Over the past six months, the stock has dropped by 23.10%, while it has risen by 1.89% over the past year.
In comparison to the benchmark index, the Nifty 50, the share price increased by 0.06% in the past five days, and decreased by 1.67% in the past month.
Over the last six months, the Nifty 50 has dropped by 6.82%. On a more positive note, the index has seen an increase of 7.01%, over the past year.
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As per a filing on January 13, ONGC’s board will meet today to review its performance for the quarter ended December 2024. In addition, the board will also consider recommendations for dividends during today’s meeting.
According to ONGC’s statement, “It is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, the 31st January, 2025, inter-alia, to consider and approve the following business items: – Un-Audited Financial Results (Standalone and Consolidated) for the Quarter and Nine Months ended 31st December, 2024.”
Furthermore, ONGC has also scheduled a second interim dividend, with February 7, as the record date for determining eligible shareholders.
3. ONGC Q2FY25 performance
In the q2FY25 (July-September), ONGC reported a 17% rise in standalone net profit, reaching Rs 11,948 crore. This marked an improvement over the Rs 10,238 crore profit in the same period last year.
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