Revenue declined by 26.1% YoY for Q1 FY10, whereas on a q?o?q basis revenues increased 8% to Rs. 14,945.44 crs. Decline in revenues is attributable to decline in revenues from both the offshore and the onshore segment.

Revenues from offshore segment declined 22.2% y?o?y to Rs. 11,331.2 crs in Q1 FY10. However on a q?o?q basis it increased by 21.1%. Whereas revenues from onshore segment declined 32.8% y?o?y to Rs. 3847.45 crs. On a q?o?q basis it declined by 20.0%.

The company achieved net realization of US$58.2 per barrel in Q1 FY10 as compared to US$69.13 per barrel in Q1 FY09.

The company gave subsidy discounts worth Rs. 429 crs in Q1 FY10 as compared to Rs. 9811 crs in Q1 FY09.

Operating profit declined by 19.8% to Rs. 9567.1 crs in Q1 FY10. Whereas on a q?o?q basis operating profit increased by 61.9%. Operating margins increased by 503 bps to 64.0% in Q1 FY10.

Depreciation expenses increased by 13.7% y?o?y to Rs. 3,178.9 crs in Q1 FY10. Whereas on a q?o?q basis depreciation witnessed decline of 25.1%.

Other income increased by 11.8% to Rs. 978.6 crs in Q1 FY10.

PAT declined by 26.9% y?o?y to Rs. 4847.9 crs in Q1 FY10. Whereas on a q?o?q basis PAT increased by 119.7%.

Company reported EPS of Rs. 22.7 for Q1 FY10 as compared to Rs. 30.8 in Q1 FY09.

The share is trading at a PE of 12.0x for Q1 FY10 annualized earnings.