ONGC rating: Reduce – Lower other costs behind Ebitda beat

OVL’s oil production at 2.2mmt fell 5% q-o-q and 10% y-o-y, while gas production at 1.2bcm declined 6% q-o-q and 10% y-o-y. OVL reported a Q1 loss of Rs 3 bn due to lower production and subdued oil/gas prices.

from The Financial Express https://ift.tt/2F9crI4