BPCL Announces Quarterly Results (1QFY20); Net Profit Down 53.1%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

BPCL Announces Quarterly Results (1QFY20); Net Profit Down 53.1%
Tue, 13 Aug

BPCL has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m824,309839,417858,5962.3%4.2%
Other incomeRs m5,48010,5765,385-49.1%-1.7%
TurnoverRs m829,790849,993863,9801.6%4.1%
ExpensesRs m785,557791,367836,7975.7%6.5%
Gross profitRs m38,75248,05021,799-54.6%-43.7%
DepreciationRs m7,3929,1499,141-0.1%23.7%
InterestRs m3,0183,5264,52428.3%49.9%
Profit before taxRs m33,82345,95113,518-70.6%-60.0%
TaxRs m10,89014,7022,767-81.2%-74.6%
Profit after taxRs m22,93331,24910,751-65.6%-53.1%
Gross profit margin%4.75.72.5
Effective tax rate%32.232.020.5
Net profit margin%2.83.71.2
* 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 grew 4.2% on a year-on-year (YoY) basis. The expenses were up by 6.5% YoY during the same period.
  • The company's operating profit declined by 43.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.5% in 1QFY20 as against 4.7% in 1QFY19.
  • Depreciation charges increased by 23.7% and finance costs increased by 49.9% YoY, respectively.
  • Other income declined by 1.7% YoY during the quarter.
  • Net profit for the quarter declined by 53.1% YoY. Net profit margins during the quarter declined from 2.8% in 1QFY19 to 1.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.7% QoQ during the same period.
  • The company's operating profit declined by 54.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.5% in 1QFY20 as against 5.7% in 4QFY19.
  • Net profit for the quarter declined by 65.6% QoQ, while net profit margins declined from 3.7% in 4QFY19 to 1.2% in 1QFY20.

To see how BPCL has performed over the last eight quarters,please visit here.

BPCL Share Price Performance

Over the last one year,BPCL share price has moved down from Rs 379.6 to Rs 352.4, registering a Loss of Rs 27.2 or around 7.2%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,229.3 (up 2.8%). Over the last one year it has moved down from 14,804.7 to 13,229.3, a gain of 1,575 points (down 10.6%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 352.4, the price to earnings (P/E) ratio of BPCL stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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