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Higher production likely to help revive investor sentiment in ONGC

Brent crude oil price per barrel averaged $75 in Q3 (vs $80.7 in Q2), with weak demand and comfortable supply

ONGC
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Devangshu Datta

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For the October-December quarter (Q3), on a standalone basis, ONGC’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of Rs 18,510 crore, up 25 per cent year-on-year (Y-o-Y), was above consensus. 
Adjusted profit after tax (PAT) of Rs 8,240 crore (down 14 per cent Y-o-Y) fell short of estimates. The oil & gas output of 10.35 million tonne of oil equivalent (mtoe) was flat Y-o-Y and up 1 per cent quarter-on-quarter (Q-o-Q). Consolidated Ebitda of Rs 26,100 crore was down 21 per cent Y-o-Y and PAT of Rs 8,620 crore declined 17 per cent Y-o-Y, due to weak performances

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