22 May 2023 , 10:47 AM
Result date: 26th May, 2023
Recommendation: Reduce
Target price: Rs. 150
Oil and Natural Gas Corporation (ONGC) could benefit from higher gas realizations from the March 2023 quarter, though lower oil prices could offset these gains to some extent.
Pressures arising from declining crude oil prices could be offset by reduction in windfall taxes.
Analysts at IIFL Capital Services expect ONGC’s Profit After Tax (PAT) to grow 18% over the year-ago quarter.
|
March 2023 estimates |
YoY change |
QoQ change |
|
| Profit After Tax (Rs. bn) |
104.8 |
18% |
(5)% |
Source: IIFL Research
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