Authored by : Abhinav Ranjan Updated May 18, 2024 | 03:39 PM IST ONGC is a state-run company.
(Pic: Shutterstock/ET NOW)ONGC Q4 Results FY 2024 Preview: The state-run Oil and Natural Gas Corporation (ONGC) is all set to announce its quarterly earnings for the fourth quarter (Q4FY24).
ONGC Q4 Results PreviewAccording to Motilal Oswal, ONGC is likely to report a net profit of Rs 6,180 crore in the fourth quarter.
It falls under the administrative control of the Ministry of Petroleum and Natural Gas.
It is the largest crude oil and natural gas company in India, contributing around 71 per cent to Indian domestic production.
Authored by : Abhinav Ranjan Updated May 18, 2024 | 03:39 PM IST ONGC is a state-run company. It will announce Q4 results next week. (Pic: Shutterstock/ET NOW)
ONGC Q4 Results FY 2024 Preview: The state-run Oil and Natural Gas Corporation (ONGC) is all set to announce its quarterly earnings for the fourth quarter (Q4FY24). The company could also announce dividend for its shareholders in the Q4.
According to an exchange filing by ONGC, its board is slated to meet on May 20 to consider and approve the financial statement for the quarter and financial year ended on May 31, 2023. The board will also take up a proposal for recommending dividend on each stock.
ONGC Dividend 2024 Date
"OIL & NATURAL GAS CORPORATION LIMITED has informed the Exchange about Board Meeting to be held on 20-May-2024 to consider and approve the Yearly Audited Financial results of the Company for the period ended March 2024 and Dividend," a statement on NSE by the company read.
ONGC Q4 Results Preview
According to Motilal Oswal, ONGC is likely to report a net profit of Rs 6,180 crore in the fourth quarter. The company's total sales in the quarter under review is seen at Rs 32,690 crore. EBITDA, it said, is seen at Rs 16,340 crore.
It said that the company's oil realization (before windfall tax) will likely expand 5 per cent YoY in the quarter. While oil sales volumes could rise, the gas sales volumes may remain flat.
Motilal Oswal said that the potential operational and financial turnaround at ONGC Videsh Ltd (OVL) can be a major share price catalyst for ONGC. "If ONGC manages to turn around ONGC Petro additions Ltd (OPaL), we believe this can add 5-8 percent to the current market price," the brokerage said. A delay in peak oil production from KG Basin or decline in oil prices below $75 per barrel are key downside risks, it added.
ONGC is a Maharatna status company. It falls under the administrative control of the Ministry of Petroleum and Natural Gas. It is the largest crude oil and natural gas company in India, contributing around 71 per cent to Indian domestic production.
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