BPCL Announces Quarterly Results (3QFY20); Net Profit Up 154.6%

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BPCL Announces Quarterly Results (3QFY20); Net Profit Up 154.6%
Wed, 19 Feb

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

BPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m882,379750,566853,68313.7%-3.3%
Other incomeRs m9,6728,7135,148-40.9%-46.8%
TurnoverRs m892,051759,279858,83213.1%-3.7%
ExpensesRs m875,005726,817826,65013.7%-5.5%
Gross profitRs m7,37423,74927,03413.8%266.6%
DepreciationRs m7,7819,5239,7312.2%25.1%
InterestRs m3,3696,3885,121-19.8%52.0%
Profit before taxRs m5,89516,55117,3304.7%194.0%
TaxRs m944-5334,724400.6%
Profit after taxRs m4,95117,08512,606-26.2%154.6%
Gross profit margin%0.83.23.2
Effective tax rate%16.0-3.227.3
Net profit margin%0.62.31.5
* 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 3.3% on a year-on-year (YoY) basis. The expenses were down by 5.5% YoY during the same period.
  • The company's operating profit increased by 266.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.2% in 3QFY20 as against 0.8% in 3QFY19.
  • Depreciation charges increased by 25.1% and finance costs increased by 52.0% YoY, respectively.
  • Other income declined by 46.8% YoY during the quarter.
  • Net profit for the quarter increased by 154.6% YoY. Net profit margins during the quarter increased from 0.6% in 3QFY19 to 1.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.7% QoQ during the same period.
  • The company's operating profit increased by 13.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.2% in 3QFY20 as against 3.2% in 2QFY19.
  • Net profit for the quarter declined by 26.2% QoQ, while net profit margins declined from 2.3% in 2QFY19 to 1.5% in 3QFY20.

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

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BPCL Share Price Performance

Over the last one year,BPCL share price has moved up from Rs 334.4 to Rs 474.4, registering a Gain of Rs 140.0 or around 41.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,959.7 (up 1.3%). Over the last one year it has moved up from 13,119.4 to 13,959.7, a gain of 840 points (up 6.4%).

Overall, the S&P BSE SENSEX is up 16.2% over the year.

Current Valuations

At the current price of Rs 474.4, the price to earnings (P/E) ratio of BPCL stands at 14.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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