We maintain our FY22-24E earnings. ONGC's Q3 standalone EBIDTA was in line at Rs159.6bn (+21%Q/Q; PLe Rs161.2bn), while PAT of Rs87.6bn (52%Q/Q PLe Rs81.0bn) was led by lower exploration write offs. Consolidated EBIDTA stood at Rs225.8bn (+22%Q/Q) due to higher crude realization. PAT was at Rs116.4bn (-38%Q/Q) due to tax write back in Q2. Global crude oil...