BPCL Announces Quarterly Results (4QFY20); Net Profit Down 143.6%

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BPCL Announces Quarterly Results (4QFY20); Net Profit Down 143.6%
Thu, 4 Jun

BPCL has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

BPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m839,417853,683812,962-4.8%-3.2%
Other incomeRs m10,5765,14811,568124.7%9.4%
TurnoverRs m849,993858,832824,530-4.0%-3.0%
ExpensesRs m791,367826,650819,151-0.9%3.5%
Gross profitRs m48,05027,034-16,997-162.9%-135.4%
DepreciationRs m9,1499,7319,474-2.6%3.6%
InterestRs m3,5265,1215,78613.0%64.1%
Profit before taxRs m45,95117,330-20,689-219.4%-145.0%
TaxRs m14,7024,724-7,079-249.8%-148.1%
Profit after taxRs m31,24912,606-13,610-208.0%-143.6%
Gross profit margin%5.73.2-2.1
Effective tax rate%32.027.334.2
Net profit margin%3.71.5-1.7
* 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 3.2% on a year-on-year (YoY) basis. The expenses were up by 3.5% YoY during the same period.
  • The company's operating profit declined by 135.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.1% in 4QFY20 as against 5.7% in 4QFY19.
  • Depreciation charges increased by 3.6% and finance costs increased by 64.1% YoY, respectively.
  • Other income increased by 9.4% YoY during the quarter.
  • Net profit for the quarter declined by 143.6% YoY. Net profit margins during the quarter declined from 3.7% in 4QFY19 to -1.7% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.9% QoQ during the same period.
  • The company's operating profit declined by 162.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.1% in 4QFY20 as against 3.2% in 3QFY19.
  • Net profit for the quarter declined by 208.0% QoQ, while net profit margins declined from 1.5% in 3QFY19 to -1.7% in 4QFY20.

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 down from Rs 409.0 to Rs 356.0, registering a Loss of Rs 53.0 or around 12.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 12,340.1 (up 0.7%). Over the last one year it has moved down from 15,742.3 to 12,340.1, a loss of 3,402 points (down 21.6%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 356.0, the price to earnings (P/E) ratio of BPCL stands at 28.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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