IDBI Capital: Oil India Q2 Review - Lower Expenses, Tax Reversal Inflated  Profit
Oil India gas pipelines (image: Company website)

IDBI Capital: Oil India Q2 Review - Lower Expenses, Tax Reversal Inflated Profit

Bookmark

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.

IDBI Capital Report

Oil India Ltd. reported better than expected net profit led by lower other expenses and reversal in deferred tax expense.

Revenue was down 33% YoY to Rs 21.7 billion owing to 8.4%/16.3% YoY decline in oil/gas sales volume and 30%/32% YoY drop in oil/gas realisation in Q2 FY21.

With a strong beat in Q2, we raise FY21 Ebitda/profit after-tax estimates.

Click on the attachment to read the full report:

IDBI Capital Oil India Q2FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.