News Oil & Gas

Oil and Natural Gas Second Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags

Oil and Natural Gas (NSE:ONGC) Second Quarter 2023 Results

Key Financial Results

  • Revenue: ₹1.69t (up 38% from 2Q 2022).
  • Net income: ₹83.0b (down 54% from 2Q 2022).
  • Profit margin: 4.9% (down from 15% in 2Q 2022). The decrease in margin was driven by higher expenses.
  • EPS: ₹6.60 (down from ₹14.35 in 2Q 2022).
NSEI:ONGC Earnings and Revenue Growth November 17th 2022

All figures shown in the chart above are for the trailing 12 month (TTM) period

Oil and Natural Gas Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates significantly. Earnings per share (EPS) missed analyst estimates by 8.8%.

Looking ahead, revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in India are expected to grow by 4.2%.

Performance of the Indian Oil and Gas industry.

The company’s shares are up 3.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we’ve spotted 2 warning signs for Oil and Natural Gas (of which 1 is a bit concerning!) you should know about.

Valuation is complex, but we’re helping make it simple.

Find out whether Oil and Natural Gas is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

View the Free Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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