Oil & Gas Q3 Preview - Operationally Strong Results Likely: Prabhudas Lilladher

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. .Prabhudas Lilladher Report.In Q3 FY23, Indian oil sector’s operating profit is expected to increase by 6% QoQ to Rs 411 billion, despite factoring no subsidy benefits. Oil marketing companies’ Q3 Ebitda loss will likely be at Rs 8.5 billion (Q2: adjusted for Rs 220 billion LPG grants Ebitda loss at Rs 201 billion) owing to-lower marketing losses (blended margins Rs 3 versus Rs 8.7 in Q2),higher gross refining margins (diesel spreads up $6/barrel of oil QoQ) andno inventory loss. Upstream segment profitability will be better, due to higher gas prices ($8.57 versus $6.1 in H1 FY23). City gas distributions earnings, on the other hand, will be impacted by higher domestic gas prices, even though lower spot liquefied natural gas prices and retail price hike can soften the blow. We expect Reliance Industries Ltd. to report operationally better results led by strength in GRMs, lower windfall tax impact (Q3 diesel and aviation turbine fuel of Rs 8.9/3.3/litre versus Rs 9.9/4.3 in Q2), higher gas realisation ($12.6/bbl versus $9.9 in H1 FY23), steady telecom and retail performance..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Oil & Gas Q3 Preview - Operationally Strong Results Likely: Prabhudas Lilladher

Indian oil sector’s operating profit is expected to increase by 6% QoQ to Rs 411 billion, despite factoring no subsidy benefits.

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