ONGC Q3 Result: The December quarter was nothing special for the Oil and Natural Gas Corporation (ONGC) and its profit declined by 31 per cent on a quarterly basis. Apart from this, the profit that the company has made was 13 percent less than expected, that is, the company has missed it by a big margin. The company today released the results of the third quarter of October-December 2024 of the current financial year 2024-25 after the closure of the equity market. Earlier, ONGC shares in the stock market closed at Rs 262.50 (ONGC Share Price) with a gain of 2.26 per cent on BSE. It had jumped 2.63 per cent to the price of Rs 263.45 in intra-day.
ONGC Q3 Result: Special things
ONGC made a profit of ₹ 8,240 crore in the December quarter, which is CNBC-TV18’s Pol Estimate ₹ 9,484 crore to 13.1 percent less. Its profit has been reduced by 31.2% on a quarterly basis. Talking about the revenue, it was 0.5 per cent to a slight decline of ₹ 33,716.8 crore but was 6.36 per cent higher than an estimate of ₹ 31,700 crore. During this period, the company’s EBITDA increased 3.9 per cent to ₹ 17,686 crore, beating ₹ 18,950 crore. The EBITD margin improved from 53.8% to 56.2% while the estimate was 55.8%. The company has also announced an interim dividend of Rs 5.
How was the move of shares in a year?
ONGC shares were at Rs 227.00 on 4 June 2024 last year, which is a one year low for its shares. It jumped about 52 per cent in 2 months from this lower level and reached the price of Rs 344.60 on 1 August 2024, which is a record high for its shares. However, the shares stopped here and currently it is about 24 per cent downside from this high.