State-owned Oil and Natural Gas Corporation Ltd (ONGC) on Friday (March 7) said its subsidiary ONGC Petro Additions Ltd (OPaL) has received the final approval for its exit from the Dahej Special Economic Zone (SEZ). The clearance was granted through a letter from the Development Commissioner of Dahej SEZ, dated March 7, 2025.
“It is informed that ONGC Petro Additions Limited (OPaL), a subsidiary of the Company, has received a Letter dated 07.03.2025 from the Development Commissioner, Dahej Special Economic Zone, granting final exit to OPaL from Dahej Special Economic Zone. Accordingly, OPaL shall operate as a Domestic Tariff Area (“DTA”) unit with effect from 08.03.2025,” ONGC said in a regulatory filing.
With this exit, effective March 8, 2025, OPaL will operate as a domestic tariff area (DTA) unit. The move is expected to enhance OPaL’s competitiveness by facilitating smoother supply operations within the domestic market.
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Q3 numbers
Oil and Natural Gas Corporation (ONGC) reported a net profit of ₹8,240 crore in Q3FY25, significantly lower than the CNBC-TV18 poll estimate of ₹9,484 crore. On a quarter-on-quarter (QoQ) basis, net profit declined 31.2% from ₹11,984 crore in Q2FY25.
The PSU oil giant’s revenue stood at ₹33,716.8 crore, marginally down 0.5% QoQ from ₹33,881 crore but exceeding the poll estimate of ₹31,700 crore. EBITDA increased 3.9% QoQ to ₹18,950 crore, up from ₹18,236 crore in the previous quarter, beating the poll estimate of ₹17,686 crore.
Shares of Oil and Natural Gas Corporation Ltd ended at ₹232.80, up by ₹0.25, or 0.11%, on the BSE.
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