ONGC declared its O2FY20 results, which were largely in line with our estimates on the operational profitability front. Revenues declined 7.8% QoQ at | 24492.6 crore on account of lower realisations as well as sales volume QoQ. oil & gas production was marginally below our estimates. As per expectations, the quarter saw nil subsidy burden and net realisations were at US$60.3/bbl due to a decline in crude oil prices. Subsequently, EBITDA during the quarter declined 12.1% QoQ and came in at | 13290 crore. However, reported PAT increased 6.1% QoQ to | 6263.1 crore (our...