GAIL Announces Quarterly Results (1QFY22); Net Profit Up 796.2%

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GAIL Announces Quarterly Results (1QFY22); Net Profit Up 796.2%
Mon, 9 Aug

GAIL has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

GAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m121,832157,572175,88611.6%44.4%
Other incomeRs m1,5594,4751,138-74.6%-27.0%
TurnoverRs m123,391162,047177,0249.2%43.5%
ExpensesRs m114,869128,748149,49116.1%30.1%
Gross profitRs m6,96328,82426,395-8.4%279.1%
DepreciationRs m5,2115,4595,9008.1%13.2%
InterestRs m526577524-9.0%-0.2%
Profit before taxRs m2,78627,26421,109-22.6%657.8%
TaxRs m8586,8423,831-44.0%346.7%
Profit after taxRs m1,92820,42117,278-15.4%796.2%
Gross profit margin%5.718.315.0
Effective tax rate%30.825.118.1
Net profit margin%1.612.69.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 44.4% on a year-on-year (YoY) basis. The expenses were up by 30.1% YoY during the same period.
  • The company's operating profit increased by 279.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.0% in 1QFY22 as against 5.7% in 1QFY21.
  • Depreciation charges increased by 13.2% and finance costs declined by 0.2% YoY, respectively.
  • Other income declined by 27.0% YoY during the quarter.
  • Net profit for the quarter increased by 796.2% YoY. Net profit margins during the quarter increased from 1.6% in 1QFY21 to 9.8% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.1% QoQ during the same period.
  • The company's operating profit declined by 8.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 1QFY22 as against 18.3% in 4QFY21.
  • Net profit for the quarter declined by 15.4% QoQ, while net profit margins declined from 12.6% in 4QFY21 to 9.8% in 1QFY22.

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

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GAIL Share Price Performance

Over the last one year, GAIL share price has moved up from Rs 97.0 to Rs 145.8, registering a Gain of Rs 48.8 or around 50.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,564.7 (down 1.3%). Over the last one year it has moved up from 13,281.6 to 15,564.7, a gain of 2,283 points (up 17.2%).

Overall, the S&P BSE SENSEX is up 44.4% over the year.

Current Valuations

At the current price of Rs 145.8, the price to earnings (P/E) ratio of GAIL stands at 11.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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