BRICS Securities puts SELL on ONGC

BRICS Securities puts SELL on ONGC
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First Published: Sat, Jul 25 2009. 10 14 AM IST

Updated: Sat, Jul 25 2009. 10 14 AM IST
Sales for the recently concluded quarter declined 25.8% to Rs148.8bn mainly on lower net oil price realisation at $58.25/bbl v/s $71.9/bbl in Q1FY09.
The lower net oil price realisation is through a combination of a fall in gross oil price realisation $60.58/bbl from $125.84/bbl in Q1FY09 and a 95.6% fall in discounts to OMCs to Rs4.3 billion.
Lower oil price was primarily responsible for a fall in profits, down by 27% y-o-y to Rs48.5 billion.
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First Published: Sat, Jul 25 2009. 10 14 AM IST
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