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ONGC profit jumps 23% on higher crude realizations despite flat output
ONGC posted a 23% year-on-year rise in Q2 profit as higher crude realizations supported earnings despite flat production volumes.
ONGC reported a 23% year-on-year rise in net profit for the September quarter despite largely flat crude and gas production volumes. Stronger oil realizations supported topline growth, helping offset volatility in crude markets and fuel pricing. The upstream major maintained its production and capital expenditure guidance for FY26 amid continued global energy supply uncertainty.