HDFC Securities: ONGC Q2 Review - Lower Oil, Gas Realisations To Drag Profitability
Emissions rise from chimneys at the Oil and Natural Gas Corporation Ltd. Uran plant. (Photographer: Dhiraj Singh/Bloomberg)

HDFC Securities: ONGC Q2 Review - Lower Oil, Gas Realisations To Drag Profitability

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

HDFC Securities Report

Oil and Natural Gas Corporation Ltd.’s Q2 FY21 revenue was approximately 4% below our expectations, owing to a lower-than-anticipated crude oil price realisation of 41.4/ barrel of oil U.S. dollar (versus estimate 42.7/ barrel of oil U.S. dollar).

Ebitda in Q2 was in line with our estimates. Adjusted profit after tax rose by approximately 55%, courtesy substantially higher-than-anticipated other income, and lower-than-anticipated interest cost.

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HDFC Securities- ONGC Q2 FY21 Results Review.pdf

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