Oil And Gas Q3 Results Preview - OMCs To Lead The Pack; Gas Utilities, CGDs Struggle: Yes Securities

Yes Securities Report

Overall, the Oil and Gas sector's core performance in Q3 FY25 is expected to be a mixed bag, oil marketing companies and standalone refiners to witness sequential improvement in reported refining performance on stronger core gross refining margins despite marginal inventory losses, and stronger marketing margins with marginal adventitious gains adding to the profitability.

Reliance Industries Ltd. would improve sequentially with oil-to-chemical on better GRMs, JIO increased average revenue per user and Retail segment reaching its peak Ebitda.

Gas utilities volumes decline on reduced city gas distributions administered price mechanism allocation and rising gas costs which would result in a deterioration in volumes as well as spreads for CGDs.

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