State-run oil & gas exploration company ONGC 's standalone profit beat analysts' estimates, rising 17.5 percent sequentially to Rs 4,975 crore in July-September quarter, partly supported by other income.
Revenue in Q2 increased 3.4 percent to Rs 18,395 crore compared with Rs 17,785 crore in previous quarter, the company said.
Operational performance missed analysts' estimates as EBITDA (earnings before interest, tax, depreciation and amortisation) grew by 7.9 percent to Rs 9,100 crore and margin expanded 10 basis points to 49.5 percent on sequential basis.
Overall it was a mixed set of earnings today. According to analysts polled by CNBC-TV18, profit was expected at Rs 4,349 crore on revenue of Rs 18,347 crore and operating profit at Rs 9,433 crore with margin of 51.4 percent for the quarter.
Other income during the quarter grew by 24.3 percent quarter-on-quarter to Rs 1,183.64 crore in Q2.
ONGC has recommended the issue of bonus shares in the proportion of 1 new equity share for every 2 existing shares.
Source: Moneycontrol.com