Oil and Natural Gas Corporation (ONGC) is set to reports its December-quarter results on Friday. The third-quarter is expected to be weak for the company.
Here are the key expectations:
- The revenues are seen to be flat at Rs 24,300 crore.
- The EBITDA is likely to see a decline of around 4 percent at around Rs 7,430 crore because of low domestic gas prices.
- Operating profit margins could decline by 230 basis points (bps).
- Net profit is expected to decline by 11 percent.
- Oil production is expected to decline 1 percent sequentially and 4 percent on a year-on-year (YoY) basis.
- The gas production is expected to see a steeper decline of 8 percent on a YoY basis across all the fields.
- In terms of realisations, as far as the oil realisation is concerned, the analysts are expecting some bump-up as, on a quarter-on-quarter (QoQ) basis, the crude prices were moving up. The realisations are expected at $62.7 per barrel versus $0 per barrel seen in last quarter.
- In terms of sales, the street is expecting oil sales to decline again at 3 percent on a YoY basis and 4 percent on a sequential basis. Gas sales are also expected to decline on a YoY basis, however, in terms of a sequential basis, some uptick might be seen.