In an exclusive interview with CNBC-TV18, Niraj Mansingka, VP-Research, Edelweiss Securities, speaks about what he expects from the oil and gas space this earnings season.
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ONGC ’s earnings would remain slightly muted. On a year on year side, they should be showing almost de-growth, but a marginal one and thanks to the increasing gas prices in the month of June. We expected Rs 4,650 crore of profit after tax (PAT) by ONGC for the quarter. GAIL , we are expecting Rs 700 crore of PAT, again there is an increased YoY. But on a sequential basis the earnings are going to be lower primarily because there is a 30% fall in the EBIT (earnings before interest and taxes) on petrochemical business almost 28% lower earnings, stronger LPG and obviously the subsidiary haven’t fallen to an extent the market was factoring. But the subsidiaries are inline with our estimate, so earnings growth will be there in GAIL.Read full article here
