Motilal Oswal has come out with its first quarter (April-June) earnings estimates for the Oil & Gas sector. The brokerage house expects MRPL to report a 52.9 percent degrowth quarter-on-quarter (growth of 21.4 percent year-on-year) in net profit at Rs 6,40.7 crore.Sales are expected to increase by 8.1 percent Q-o-Q (down 11.3 percent Y-o-Y) to Rs 10033.3 crore, according to Motilal Oswal.Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 29.6 percent Q-o-Q (up 5.7 percent Y-o-Y) to Rs 1086.4 crore.Motilal Oswal's report on MRPLWe expect MRPL to report EBITDA of RS 10.9b (v/s RS 15.4b in4QFY16 and RS 10.3b in 1QFY16). We estimate adjusted PAT of RS 6.4b (v/s RS 5.3b in 1QFY16 and RS 13.6b in 4QFY16).Regional benchmark Reuters Singapore GRM is down 38% Y-o-Y/35 percent Q-o-Q to USD5/bbl. We model MRPL’s GRM at USD7.1/bbl v/sUSD6.7/bbl in 1QFY16 and USD8.2/bbl in 4QFY16.We expect refinery throughput at 3.9mmt (-13.7% Q-o-Q and flat Y-o-Y). The sequential decline is led by refinery shutdown due to water shortage.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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