ONGC Q3 Results Today: State-run energy giant may report muted earnings; stock flat

ONGC share price: Oil and Natural Gas Corporation (ONGC) shares were in focus on Tuesday as investors awaited the state-run energy major's financial results due later in the day. The ONGC stock traded flat with a negative bias in the early deals, quoting at Rs 147.7 a share at the last count after moving in a range of Rs 148.9-147.5 apiece.

What to expect in ONGC Q3 results 

ONGC is likely to report a 2.5 per cent sequential decline in profit to Rs 12,500 crore for the quarter ended December 2022, according to Zee Business research.

ALSO READ: ONGC declares 2nd interim dividend for the year

The company’s revenue may grow nearly two per cent to Rs 39,000 crore for the three-month period compared with the previous quarter, according to the research.

The analysts believe the margin of to expand by 410 basis points sequentially to 53.2 per cent, with a more than 10 per cent rise in EBITDA to Rs 20,735 crore. 

According to Zee Business research, sales in ONGC’s oil business may increase 1-2 per cent and may decline 1-2 per cent in the natural gas unit. They expect a decline in crude realisations.

ALSO READ: ONGC to reverse oil, gas output decline

ONGC share price history

ONGC shares have declined more than 11 per cent in the last one year, a period in which the Sensex index has risen 7.5 per cent.

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