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First cut | Oil India Q3FY19 – crude oil and natural gas segment drive decent performance

The performance of the LPG, pipeline and renewable energy business remained largely muted.

February 12, 2019 / 18:03 IST
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The black gold has been trading higher than 5, 20, 50, 100 and 200 days simple moving averages and exponential moving averages on a daily chart.

Ruchi Agrawal Moneycontrol Research

Amid talks of government planning to divest 10 percent stake, Oil India (OIL) reported a decent performance year-on-year (YoY), though there was some contraction sequentially. The performance was majorly driven by a healthy uptick in natural gas and crude oil segment, even though the performance from the LPG, pipeline and renewable energy business remained largely muted. 

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 -Healthy 23 percent YoY uptick in the revenue driven by strong growth in crude oil and natural gas segments.

-Overall margin growth remained largely flat on the YoY basis; however, there was a healthy growth sequentially.