Oil and Natural Gas Corporation Ltd reported Q4FY19 results beating the estimates. Revenue grew by 11.6% yoy to Rs26,759cr against Rs23,970cr in Q4FY18. Net profit for the quarter de-grew by 31.6% yoy to Rs4,045cr against Rs5,915cr last year, which is below consensus estimates
Total crude production declined by 5.9% yoy to 5.9 MMT in Q4FY19 against 6.2 MMT in Q4FY18.
Total gas production grew by 7.9% yoy to 6.55 BCM in Q4FY19 against 6.07 BCM yoy.
Value added products grew by 7.3% yoy to 931 KT in the quarter under review against 868 KT in Q4FY18.
Crude oil realization from nominated fields rose 5.6% to Rs 4,365/ bbl, while prices from joint venture fields increased 11.9% to Rs 4,320/ bbl during the quarter. Gas price during the quarter was up 16.3% yoy at $3.36 per mmbtu.
ONGC has made 13 discoveries in FY19. Of the 13 discoveries, 8 discoveries were made in onland (Nominaton-6, NELP-2) and 5 in offshore (Nomination-2, NELP- 3). Out of 13 discoveries, 5 discoveries were monetized during the year itself.
Oil & Natural Gas Corpn Ltd ended at Rs. 169.65, down by 1.9 points or 1.11% from its previous closing of Rs. 171.55 on the BSE.
The scrip opened at Rs. 172.15 and touched a high and low of Rs. 172.15 and Rs. 168 respectively. A total of 2,21,69,173 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
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