ONGC Q2FY21 consolidated PAT at Rs. 4335.31 crore

OIL AND NATURAL GAS CORPORATION LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.85577.85 crores during the period ended September 30, 2020 as compared to Rs.63575.47 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.4335.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.119.75 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.3.45 for the period ended September 30, 2020 as compared to Rs.0.10 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 85577.85 crs	₹ 63575.47 crs	34.61%
Net Profit	₹ 4335.31 crs	₹ 119.75 crs	3520.3%
EPS	₹ 3.45	₹ 0.10	3350%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.85577.85 crores during the period ended September 30, 2020 as compared to Rs.103215.13 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.4335.31 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.5349.20 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.3.45 for the period ended September 30, 2020 as compared to Rs.4.25 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 85577.85 crs	₹ 103215.13 crs	-17.09%
Net Profit	₹ 4335.31 crs	₹ 5349.20 crs	-18.95%
EPS	₹ 3.45	₹ 4.25	-18.82%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.149153.32 crores during the 6 months period ended September 30, 2020 as compared to Rs.214303.67 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.4455.06 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.12120.20 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.3.54 for the 6 months period ended September 30, 2020 as compared to Rs.9.63 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 149153.32 crs	₹ 214303.67 crs	-30.4%
Net Profit	₹ 4455.06 crs	₹ 12120.20 crs	-63.24%
EPS	₹ 3.54	₹9.63	-63.24%

ONGC registered a Net Profit of ₹ 2,878 crore on the Gross Revenue of ₹ 16,917 crore during Q2 FY'21. During this period ONGC produced 5.686 MMT of Crude Oil and 5.880 BCM of Natural Gas.

The revenue and PAT for Q2 and H1 of FY'21 have declined as compared to corresponding period of FY'20 mainly due to lower crude oil price realization. Lower gas prices also contributed to lower topline and bottom line. The Company has also recognized an Exceptional Item towards impairment loss of ₹1,238 crore in Q2 FY'21 to factor into estimated future crude oil and natural gas prices. This impairment loss may be reversed in future as and when there is increase in crude oil and gas price. However, PAT for Q2 FY'21 has increased by 480% i.e. from ₹ 496 crore in Q1 FY'21 to ₹ 2,878 crore in Q2 FY'21 due to recovery of crude oil price.

Shares of OIL AND NATURAL GAS CORPORATION LTD. was last trading in BSE at Rs.72.1 as compared to the previous close of Rs. 71.55. The total number of shares traded during the day was 1262467 in over 6617 trades.

The stock hit an intraday high of Rs. 72.45 and intraday low of 70.05. The net turnover during the day was Rs. 89988010.

Source : Equity Bulls

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