Oil and Natural Gas Corporation (ONGC) posted a 15% decline in its net profit for Q1 FY 2024-25, totaling Rs 8,938.10 crore, down from Rs 10,526.78 crore in the same quarter last year. Sequentially, profit fell from Rs 9,869.37 crore in Q4 FY 2023-24. The decrease is attributed to a higher exploration cost write-off of Rs 1,669.73 crore, compared to Rs 1,015.81 crore a year earlier. Revenue from operations increased to Rs 35,266.38 crore from Rs 33,814.33 crore. This decline may negatively impact ONGC’s stock performance.