ONGC Q3: PSU behemoth reports 50% fall in profit
The numbers came below expectation as a CNBC-TV18 poll had estimated the number to the tune of Rs 5,551 crore.
February 14, 2020 / 06:47 PM IST
Oil and Natural Gas Corporation (ONGC) on February 14 posted a 49.75 percent year-on-year (YoY) fall in standalone profit at Rs 4,151.63 crore for the quarter ended December 31. The state-run oil explorer had posted a profit of Rs 8,262.70 crore in the same period last year.
A CNBC-TV18 poll had projected Q3 profit at Rs 5,551 crore.
EBITDA came at Rs 12,298.3 crore against CNBC-TV18's poll of Rs 12,734 crore, while EBITDA margin stood at 51.9 percent against CNBC-TV18's poll of 52 percent.
The total income of the company fell 16 percent YoY to Rs 25,112.55 crore during the quarter under review.
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Total expenses increased to Rs 19,113.98 crore in the December quarter of FY20 from Rs 17,825.22 crore in the corresponding quarter of the previous financial year.
Revenue from offshore and onshore operations declined 16.83 percent and 9.1 percent YoY to Rs 15,764.66 crore and Rs 7,945.39 crore, respectively, during the quarter under review.
The company announced its results post-market hours. The scrip closed 1.99 percent down at Rs 103.25 on BSE.