Oil & Gas Sector Earnings Review - Gujarat Gas Stood Out In Q3 With Strong Growth And A Big Beat: ICICI Securities
Gas pipelines of Gujarat State Petronet Ltd. (Source: Company website)

Oil & Gas Sector Earnings Review - Gujarat Gas Stood Out In Q3 With Strong Growth And A Big Beat: ICICI Securities

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.

ICICI Securities Report

Q3 FY21 earnings per share of all seven oil and gas companies was up YoY; EPS rise of Indian Oil Corporation Ltd. and Gujarat Gas Ltd. was the steepest at 145-99% YoY while that of Mahanagar Gas Ltd. and Indraprastha Gas Ltd. was weakest at 17-23% YoY.

Gujarat Gas stood out, given the big beat on volumes and margins (8-44% above our estimate), which drove Ebitda and earnings per share beat of 56-79%.

Key trends emerging from Q3 FY21 results were YoY rise in industrial gas volumes versus fall in compressed natural gas,

Click on the attachment to read the full report:

ICICI Securities Q3FY21 Oil&Gas Review.pdf

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