India’s ONGC Net Profit Slips 18% as Oil Prices Drop

Indian state-owned Oil and Natural Gas Corporation Limited (ONGC), the biggest oil and gas explorer and producer in the country, booked a 17.8% decline in its net profit for the July-September quarter compared to a year earlier as lower oil prices dented crude realizations. ONGC reported $1.11 billion (98.5 billion Indian rupees) in standalone net profit for the second quarter of its 2025/2026 fiscal year, down by 17.8% from the same period of the previous fiscal year, but higher than the $906 million (80.24 billion rupees) net profit for the first…