New Delhi, May 26 -- Oil & Natural Gas Corp. Ltd (ONGC) reported a standalone Ebitda of Rs.19,000 crore for the March quarter (Q4FY25), up 9% year-on-year, despite lower aggregate realization, thanks to higher sales volumes and lower statutory levies. However, an over fourfold increase in dry well write-offs caused ONGC's net profit to drop as much as 35%.

In comparison, Q4 revenue was flattish at about 1% year-on-year to Rs.35,000 crore, with sales volume rising marginally by about 2%. Gross oil realization fell 9% to $73.7 per barrel, while average gas realization was up 6%. The higher gas price can be attributed to the rising share ofnew wells gas (NWG) thatfetched a price of$9.2 per mBtu (million British thermal units) last quarter v...