ONGC Q3 PAT seen 22% down at Rs 5,200 crore, stock down

MUMBAI: ONGC will be announcing its third quarter results today. According to ET Now poll, the oil & gas major net profit is likely to decline 22 per cent to Rs 5,200 crore against a net profit of Rs 6,741 crore in the corresponding quarter a year ago.

Net sales are seen at Rs 20,535 crore, up 13 per cent, as compared to Rs 18,123 crore in the same quarter last fiscal. The EBITDA is seen at Rs 10,609 crore, against Rs 11,050 crore, Year-on-Year (Y-o-Y). Realisations are seen at $47-50 per barrel.

Factors to Watch:

Q3 discounts to OMCs seen at Rs 12,119 crore

Expect decline in oil production on Y-o-Y basis at 5.6MT

Gas production seen flat Y-o-Y at 5.8mmscmd

High subsidy and cess payout coupled with low production to hit profits.

At 10:05 a.m.; the stock was at Rs 311, down 0.78 per cent, on the BSE. It touched a high of Rs 313.45 and a low of Rs 313 in trade today.