{"id":360491,"date":"2020-07-01T11:33:55","date_gmt":"2020-07-01T06:03:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=360491"},"modified":"2020-07-01T11:33:55","modified_gmt":"2020-07-01T06:03:55","slug":"ongcs-march-quarter-results-keep-the-energy-low-for-the-stock","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongcs-march-quarter-results-keep-the-energy-low-for-the-stock\/","title":{"rendered":"ONGC\u2019s March quarter results keep the energy low for the stock"},"content":{"rendered":"<p>Oil and Natural Gas Corporation (ONGC) share has so far fallen about 38% from its highs in January. As it turns out, the company\u2019s March quarter results announced on Wednesday evening don\u2019t inspire much confidence. True, revenues at \u20b921456 crore, representing 20% year-on-year decline, were slightly ahead of Street estimates but net crude oil price realisations declined by almost 21% to $49.01 a barrel. Oil and gas volumes fell by 7.3% and 10.6%, respectively.<\/p>\n<p>Profitability picture was dull though. An increase of 11% in other expenses weighed on profits, especially when other components of operating costs have declined. Earnings before interest, tax, depreciation and amortisation (Ebitda) declined by 30.6% to \u20b98,588 crore. Further, other income declined sharply and there was also an impairment loss of about \u20b94,900 crore. The upshot: ONGC reported a net loss of \u20b93,098 crore for the March quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil and Natural Gas Corporation (ONGC) share has so far fallen about 38% from its highs in January. As it turns out, the company\u2019s March quarter results announced on Wednesday evening don\u2019t inspire much confidence. True, revenues at \u20b921456 crore, representing 20% year-on-year decline, were slightly ahead of Street estimates but net crude oil price realisations declined by almost 21% to $49.01 a barrel. Oil and gas volumes fell by 7.3% and 10.6%, respectively. Profitability picture was dull though. An increase of 11% in other expenses weighed on profits, especially when other components of operating costs have declined. Earnings before [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-360491","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=360491"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/360491\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=360491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=360491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=360491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}