Exploration & Production company Oil And Natural Gas Corporation announced Q2FY24 results: Financial Performance: - ONGC recorded a consolidated net profit of Rs 16,553 crore for Q2FY24, showing a significant increase of 142.4% QoQ. - The gross revenue for Q2FY24 stood at Rs 1,46,874 crore. Dividend: - ONGC's board of directors approved an interim dividend of Rs 5.75 per share, totaling Rs 7,234 crore. - The record date for the distribution of the dividend has been fixed for November 21, 2023. Production Performance: - ONGC's crude oil production for Q2FY24 was 4.545 million metric tonnes (MMT) for ONGC and its joint ventures, showing a slight decline of 1.9%. - Gas production for the quarter stood at 5.018 billion cubic meters (BCM) for ONGC and its joint ventures, a decrease of 3.1%. Exploratory Success: - ONGC declared 5 discoveries during FY24, including 2 land and 3 offshore discoveries. - One notable discovery is the South Mahadevapatinam-2 well, which flowed gas and condensate and proved hydrocarbon production in the area. Result PDF