State-owned Oil and Natural Gas Corporation (ONGC) will report its Q3 earnings on Friday and the street expects it to be a good quarter that will be led by higher crude oil prices. Expect revenues to grow on a quarter-on-quarter basis by around 15 percent.
Expect EBITDA growth of 19 percent, margins are expected go up by 200 basis points and profits will see a decline of 3.50 percent. Now higher EBITDA this time around will be led by an 18 percent sequential increase in realisation at $75 a barrel, higher price of value-added products, and also higher realisation in gas prices.
The stock has done really well in the last one year and is up 70 percent and it still trades at around 5.6 times FY23 EPS.
Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
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