Oil and Natural Gas Corporation Ltd reported below consensus estimates results for Q1FY20. Standalone revenue degrew by 2.4% yoy to Rs26,555cr against Rs27,213cr in Q1FY19. Its consolidated revenue declined by 0.8% yoy to Rs1.09 lakh cr. Net profit for the quarter de-grew by 3.9% yoy to Rs5,904cr against Rs6,144cr last year, which is below consensus estimates. Its consolidated net profit declined by 24.4% to Rs7,043cr.
• Total crude production declined by 5.6% yoy to 5.86 MMT in Q1FY20 against 6.21 MMT in Q1FY19.
• Total gas production grew by 3.7% yoy to 6.42 BCM in Q1FY20 against 6.19 BCM yoy.
• ONGC has made 4 discoveries (3 prospects and 1 pool) in Q1FY20.
Oil & Natural Gas Corpn Ltd ended at Rs. 129, up by 0.7 points or 0.55% from its previous closing of Rs. 128.30 on the BSE.
The scrip opened at Rs. 129 and touched a high and low of Rs. 129 and Rs. 129 respectively. A total of 38,172 (NSE+BSE) shares were traded on the counter. The stock traded above its 100 DMA.
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