Lower production reduces profits… • Oil India :: ICICI Securities, PDF link

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Lower production reduces profits…
• Oil India reported its Q2FY15 results, which were below our
estimates. The topline declined 22.7% YoY to | 2192.5 crore while
the reported PAT fell 32.7% YoY to | 608.3 crore
• The subsidy burden for Q2FY15 stood at | 2238.3 crore, which was
in line with our estimate of | 2231 crore. Crude oil production at
0.879 MMT was below our expectation of 0.91 MMT and net
realisation of US$45.25/barrel was in line with our estimate
• EBITDA at | 809.2 crore came below our estimate of | 1043.6 crore
while the EBITDA margin at 36.9% was below our estimate of 43.6%
on account of lower than expected crude oil sales

LINK
http://content.icicidirect.com/mailimages/IDirect_OilIndia_Q2FY15.pdf