ABAN OFFSHORE Announces Quarterly Results (4QFY18); Net Profit Up 428.1%

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ABAN OFFSHORE Announces Quarterly Results (4QFY18); Net Profit Up 428.1%
Fri, 20 Jul

ABAN OFFSHORE has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

ABAN OFFSHORE Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m3,9093,7613,284-12.7%-16.0%
Other incomeRs m721786410.0%19.3%
TurnoverRs m3,9813,7773,370-10.8%-15.4%
ExpensesRs m2,3732,63014,386446.9%506.4%
Gross profitRs m1,5391,130-11,103-1082.5%-821.4%
DepreciationRs m1,7101,6691,647-1.3%-3.7%
InterestRs m2,8672,7284,66771.1%62.8%
Profit before taxRs m-2,966-3,250-17,332
TaxRs m40576472520.5%16.5%
Profit after taxRs m-3,371-3,326-17,804
Gross profit margin%39.430.1-338.1
Effective tax rate%-13.7-2.3-2.7
Net profit margin%-84.7-88.1-528.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 16.0% on a year-on-year (YoY) basis. The expenses were up by 506.4% YoY during the same period.
  • The company's operating profit declined by 821.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 338.1% in 4QFY18 as against 39.4% in 4QFY17.
  • Depreciation charges and finance costs declined by 3.7% YoY and 62.8% YoY, respectively.
  • Other income increased by 19.3% YoY during the quarter.
  • Net profit for the quarter increased by 428.1% YoY. Net profit margins during the quarter declined from -84.7% in 4QFY17 to 528.4% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 446.9% QoQ during the same period.
  • The company's operating profit declined by 1082.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 338.1% in 4QFY18 as against 30.1% in 3QFY17.
  • Net profit for the quarter increased by 435.3% QoQ, while net profit margins declined from 88.1% in 3QFY17 to 528.4% in 4QFY18.

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 187.0 to Rs 102.1, registering a Loss of Rs -85.0 or around 45.4%.

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 102.1, the price to earnings (P/E) ratio of ABAN OFFSHORE stands at NM times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.1 times.

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For the quarter ended June 2019, ABAN OFFSHORE has posted a net profit of Rs 4 bn (down 23.5% YoY). Sales on the other hand came in at Rs 1 bn (down 53.7% YoY). Read on for a complete analysis of ABAN OFFSHORE's quarterly results.

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