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Crude oil price drop likely to result in earnings downgrade for ONGC
Crude oil production was flat quarter-on-quarter (Q-o-Q) and year-on-year (Y-o-Y), while gas production was flat Q-o-Q but declined 6 per cent Y-o-Y
Devangshu Datta
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ONGC's revenue for the fourth quarter of 2024-25 (Q4FY25) came in above estimates as crude oil and gas sales were higher than consensus. The revenue came in at ₹35,000 crore on the back of higher crude and gas sales and steady value added product sales. Oil realisation averaged $73.7 per barrel, a $3.1 per barrel discount to Brent.
Crude production was flat quarter-on-quarter (Q-o-Q) and flat year-on-year (Y-o-Y), while gas production was flat Q-o-Q but down 6 per cent Y-o-Y. The Ebitdax (Earnings before interest, depreciation, amortisation, and exploration) was at ₹19,000 crore (up 9 per cent Y-o-Y), while net
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