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IBP: Robust performance

May 28, 2004

IBP, a pure oil marketing subsidiary of IOC, has posted robust 4QFY04 and FY04 results with the topline showing a jump of 37% YoY while the bottomline has improved by an impressive 147% YoY in the quarter. On a full year basis, the topline has improved by 19% while the bottomline has increased by 145%.

(Rs m) 4QFY03 4QFY04 Change FY03 FY04 Change
Net sales 21,779 29,828 37.0% 89,465 106,502 19.0%
Other income 101 230 127.6% 444 609 37.3%
Expenditure 21,108 28,447 34.8% 88,053 103,372 17.4%
Operating profit (EBDITA) 670 1,381 105.9% 1,412 3,130 121.6%
Operating profit margin (%) 3.1% 4.6%   1.6% 2.9%  
Interest 1 0 -84.6% 5 1 -85.7%
Depreciation 99 111 12.1% 444 413 -7.0%
Profit before tax 671 1,499 123.3% 1,407 3,326 136.3%
Tax 292 564 93.2% 530 1,179 122.6%
Profit after tax/(loss) 379 935 146.5% 878 2,147 144.6%
Net profit margin (%) 1.7% 3.1%   1.0% 2.0%  
No. of shares (m) 22.2 22.2   22.2 22.2  
Diluted earnings per share (Rs)* 68.5 168.9   39.6 96.9  
P/E ratio (x)         4.8  
(* annualised)            

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