ABAN OFFSHORE Announces Quarterly Results (4QFY19); Net Profit Down 131.9%

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ABAN OFFSHORE Announces Quarterly Results (4QFY19); Net Profit Down 131.9%
Mon, 10 Jun

ABAN OFFSHORE has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

ABAN OFFSHORE Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,2841,9421,389-28.5%-57.7%
Other incomeRs m8663-48.1%-96.3%
TurnoverRs m3,3701,9491,392-28.6%-58.7%
ExpensesRs m14,3861,74637,8742069.7%163.3%
Gross profitRs m-11,103197-36,485-18627.6%
DepreciationRs m1,6471,7321,646-5.0%-0.1%
InterestRs m4,6672,8802,9642.9%-36.5%
Profit before taxRs m-17,332-4,409-41,091
TaxRs m47267202201.2%-57.1%
Profit after taxRs m-17,804-4,476-41,293
Gross profit margin%-338.110.1-2,626.7
Effective tax rate%-2.7-1.5-0.5
Net profit margin%-528.4-229.7-2,966.1
* 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 57.7% on a year-on-year (YoY) basis. The expenses were up by 163.3% YoY during the same period.
  • The company's operating profit increased by 228.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2626.7% in 4QFY19 as against 338.1% in 4QFY18.
  • Depreciation charges declined by 0.1% and finance costs declined by 36.5% YoY, respectively.
  • Other income declined by 96.3% YoY during the quarter.
  • Net profit for the quarter declined by 131.9% YoY. Net profit margins during the quarter declined from -528.4% in 4QFY18 to -2966.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 28.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2069.7% QoQ during the same period.
  • The company's operating profit declined by 18627.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2626.7% in 4QFY19 as against 10.1% in 3QFY18.
  • Net profit for the quarter declined by 822.6% QoQ, while net profit margins declined from -229.7% in 3QFY18 to -2966.1% in 4QFY19.

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 122.5 to Rs 46.1, registering a Loss of Rs 76.4 or around 62.4%.

Overall, the S&P BSE SENSEX is up 12.6% over the year.

Current Valuations

At the current price of Rs 46.1, the price to book value (P/BV) ratio of ABAN OFFSHORE stands at 14.0 times.

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