ONGC Q1 profit seen at Rs 5790 cr, realisation may jump 29%

Oil and Natural Gas Corporation (ONGC) is expected to report net profit of Rs 5,790 crore and operating profit of Rs Rs 12,700 crore for the quarter ended June, according to average of estimates of analysts polled by CNBC-TV18.

Analysts feel earnings are likely to improve on better realisations and near zero subsidy. They expect net realisations to improve 29 percent to USD 60 a barrel during the quarter, which may be the highest net realisation over the past 15 quarters despite crude being at lowest in last 15 quarters.

Oil production may remain largely flat both on year-on-year and sequential basis.