{"id":384964,"date":"2020-11-19T11:24:07","date_gmt":"2020-11-19T05:54:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=384964"},"modified":"2020-11-19T11:24:07","modified_gmt":"2020-11-19T05:54:07","slug":"ongcs-sep-quarter-results-wont-move-the-needle-for-its-shares","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongcs-sep-quarter-results-wont-move-the-needle-for-its-shares\/","title":{"rendered":"ONGC\u2019s Sep quarter results won\u2019t move the needle for its shares"},"content":{"rendered":"<p>State-run explorer Oil and Natural Gas Corp. Ltd\u2019s (ONGC) standalone revenue fell almost 31% year-on-year in Q2, though it marked an improvement from the 51% y-o-y drop in the June quarter. Crude price realizations were better, increasing to $41.4 per barrel last quarter from $28.7 a barrel in the June quarter. However, note that realizations are still 31% down y-o-y.<\/p>\n<p>ONGC\u2019s standalone net profit of \u20b92,877 crore includes the impact of an exceptional item worth about \u20b91,240 crore pertaining to impairment loss. Pre-tax earnings before exceptional items stood at \u20b95,228 crore, driven by higher-than-expected other income and lower interest expenses and depreciation costs.<\/p>\n<p>\u201cONGC\u2019s Q2FY21 results were well ahead of our expectations boosted by higher value-added-products sales volumes, higher realizations, reduction in other expenses and favourable movement in below-Ebitda items,&#8221; wrote analysts from Kotak Institutional Equities in a report on 18 November.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run explorer Oil and Natural Gas Corp. Ltd\u2019s (ONGC) standalone revenue fell almost 31% year-on-year in Q2, though it marked an improvement from the 51% y-o-y drop in the June quarter. Crude price realizations were better, increasing to $41.4 per barrel last quarter from $28.7 a barrel in the June quarter. However, note that realizations are still 31% down y-o-y. ONGC\u2019s standalone net profit of \u20b92,877 crore includes the impact of an exceptional item worth about \u20b91,240 crore pertaining to impairment loss. Pre-tax earnings before exceptional items stood at \u20b95,228 crore, driven by higher-than-expected other income and lower interest expenses [&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-384964","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\/384964","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=384964"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/384964\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=384964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=384964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=384964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}