ONGC share price slumps over 3% after Q4 results. Buy or sell?

Oil and Natural Gas Corporation (ONGC) share price fell 3.5% on Wednesday, 27 May, after the company reported its March-quarter earnings, which were weighed down by lower production and higher exploration write-offs.

The state-owned energy major reported a 3% year-on-year increase in consolidated net profit to ₹6,649.97 crore for the quarter ended March 2026, compared with ₹6,448.28 crore in the year-ago period. However, profit declined sequentially from ₹8,371.85 crore reported in the December quarter.