On May 20, Oil and Natural Gas Corporation (ONGC), India’s largest exploration and production company, is poised to unveil its financial results for the most recent quarter. Analysts have been fervently speculating about the company’s performance, particularly focusing on earnings per share (EPS) and sales figures.
According to predictions from six analysts, ONGC is anticipated to report an EPS of INR 9.00 per share for the quarter, marking a significant increase from INR 2.95 per share recorded in the corresponding quarter last year. This optimistic forecast suggests a potentially robust performance for the company, driven by various operational factors and market dynamics.
However, contrasting with the anticipated surge in EPS, Wall Street expects a notable decline in sales figures. Analysts project sales to amount to INR 347.76 billion, reflecting a decrease of 78.80% compared to the same period last year. This downturn in sales could be attributed to various factors, including global market conditions, industry-specific challenges, and internal operational dynamics.
Looking ahead, analysts are eyeing an EPS of INR 39.29 for the current fiscal year, surpassing the previous year’s earnings of INR 28.17 per share. This projection indicates a positive outlook for ONGC, bolstered by expectations of sustained growth and improved operational efficiency.
As stakeholders eagerly await ONGC’s financial disclosures, the market remains abuzz with speculation and anticipation, poised to react to the revealed figures and insights into the company’s performance trajectory.
