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- ABAN OFFSHORE Announces Quarterly Results (2QFY19); Net Profit Down 38.7%
ABAN OFFSHORE Announces Quarterly Results (2QFY19); Net Profit Down 38.7%
Mon, 12 Nov
ABAN OFFSHORE has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:
ABAN OFFSHORE Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-17* | 3 Jun-18* | 3 Sep-18* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 3,292 | 2,953 | 2,198 | -25.6% | -33.2% |
| Other income | Rs m | 17 | 480 | 638 | 33.0% | 3630.7% |
| Turnover | Rs m | 3,309 | 3,433 | 2,836 | -17.4% | -14.3% |
| Expenses | Rs m | 1,546 | 2,059 | 1,985 | -3.6% | 28.4% |
| Gross profit | Rs m | 1,746 | 895 | 175 | -80.5% | -90.0% |
| Depreciation | Rs m | 1,655 | 1,652 | 1,717 | 4.0% | 3.8% |
| Interest | Rs m | 2,711 | 2,694 | 2,835 | 5.2% | 4.6% |
| Profit before tax | Rs m | -2,603 | -2,972 | -3,739 | ||
| Tax | Rs m | 174 | 156 | 114 | -26.8% | -34.4% |
| Profit after tax | Rs m | -2,777 | -3,128 | -3,853 | ||
| Gross profit margin | % | 53.0 | 30.3 | 8.0 | ||
| Effective tax rate | % | -6.7 | -5.2 | -3.1 | ||
| Net profit margin | % | -83.9 | -91.1 | -135.9 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter fell 33.2% on a year-on-year (YoY) basis. The expenses were up by 28.4% YoY during the same period.
- The company's operating profit declined by 90.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.0% in 2QFY19 as against 53.0% in 2QFY18.
- Depreciation charges increased by 3.8% and finance costs increased by 4.6% YoY, respectively.
- Other income increased by 3630.7% YoY during the quarter.
- Net profit for the quarter declined by 38.7% YoY. Net profit margins during the quarter declined from -83.9% in 2QFY18 to -135.9% in 2QFY19.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter fell 25.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.6% QoQ during the same period.
- The company's operating profit declined by 80.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.0% in 2QFY19 as against 30.3% in 1QFY18.
- Net profit for the quarter declined by 23.2% QoQ, while net profit margins declined from -91.1% in 1QFY18 to -135.9% in 2QFY19.
To see how ABAN OFFSHORE has performed over the last eight quarters, please visit here.
ABAN OFFSHORE Share Price Performance
Over the last one year, ABAN OFFSHORE share price has moved up from Rs 201.2 to Rs 81.2, registering a Loss of Rs 120.0 or around 59.6%.
Overall, the S&P BSE SENSEX is up 5.8% over the year.
Current Valuations
At the current price of Rs 81.2, the price to book value (P/BV) ratio of ABAN OFFSHORE stands at 0.1 times.
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Feb 5, 2019 | Updated on Feb 5, 2019For the quarter ended December 2018, ABAN OFFSHORE has posted a net profit of Rs 4 bn (down 34.6% YoY). Sales on the other hand came in at Rs 2 bn (down 48.3% YoY). Read on for a complete analysis of ABAN OFFSHORE's quarterly results.
ABAN OFFSHORE Announces Quarterly Results (1QFY19); Net Profit Up 44.9% (Quarterly Result Update)
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