Crude oil price drop likely to result in earnings downgrade for ONGC

Crude oil production was flat quarter-on-quarter (Q-o-Q) and year-on-year (Y-o-Y), while gas production was flat Q-o-Q but declined 6 per cent Y-o-Y

ONGC’s revenue for the fourth quarter of 2024-25 (Q4FY25) came in above estimates as crude oil and gas sales were higher than consensus. The revenue came in at ₹35,000 crore on the back of higher crude and gas sales and steady value added product sales. Oil realisation averaged $73.7 per barrel, a $3.1 per barrel discount to Brent.

 

Crude production was flat quarter-on-quarter (Q-o-Q) and flat year-on-year (Y-o-Y), while gas production was flat Q-o-Q but down 6 per cent Y-o-Y. The Ebitdax (Earnings before interest, depreciation, amortisation, and exploration) was at ₹19,000 crore (up 9 per cent Y-o-Y), while net