BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Q1 FY23 earnings for our oil and gas coverage universe saw a material hit from the sustained losses in fuel retailing by oil marketing companies, which offsets an otherwise strong performance by Reliance Industries Ltd., upstream players and city gas distributions.
Overall, operating earnings for the covered companies declined 5% YoY and net earnings slipped 28% YoY for the quarter (QoQ Ebitda decline of 26%, profit after tax dipped 48%).
OMCs reported a massive Rs 170 billion loss in Ebitda and Rs 184.8 billion net loss.
RIL stood out in Q1 with 63% YoY growth in Ebitda and 41% YoY growth in profit after tax, while Oil and Natural Gas Corporation Ltd. plus Oil India Ltd. also delivered a strong Q1, posting a 2.1 times growth in Ebitda, 3.5 times growth in profit after tax.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
