"ONGC just dropped a profit bomb—₹11,554 crore! But wait… revenue fell?"

📊 Key Financial Highlights - Net Profit: ₹11,554 crore - Up 18.18% YoY from ₹9,776 crore in Q1 FY25 - Revenue from Operations: ₹1,63,108 crore - Down 3.2% YoY from ₹1,68,968 crore - Sequential Comparison: - Revenue fell 8.5% QoQ to ₹32,002 crore - Net profit rose 24% QoQ from ₹6,448 crore - EBITDA increased 23% QoQ to ₹17,185 crore - EBITDA margin improved to 53.7% from 39.9% 🛢️ Operational Metrics - Crude Oil Production: 5.24 million metric tonnes - Flat YoY and QoQ - Average Daily Production: 4.22 lakh barrels/day - Down 1% QoQ due to fewer days in the quarter - Gas Production: 4.96 billion cubic meters - Down 1% YoY and QoQ - Gross Crude Realisations: $66 per barrel - In line with expectations 📈 Market Reaction & Outlook - Share Price: Closed at ₹235.50, up 0.81% on results day - Brokerage View: - Jefferies maintained a Buy rating with a target of ₹360 - Implies a 53% upside from current levels ✅ Major Support at Rs. 235 ✅ major Resistance at Rs. 245