GAIL Announces Quarterly Results (2QFY19); Net Profit Up 49.9%

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GAIL Announces Quarterly Results (2QFY19); Net Profit Up 49.9%
Mon, 12 Nov

GAIL has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

GAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m124,097172,986192,75311.4%55.3%
Other incomeRs m2,9291,1963,656205.7%24.9%
TurnoverRs m127,025174,182196,41012.8%54.6%
ExpensesRs m103,402150,550163,4788.6%58.1%
Gross profitRs m20,69422,43629,27630.5%41.5%
DepreciationRs m3,4253,7893,506-7.5%2.4%
InterestRs m9264414553.1%-50.9%
Profit before taxRs m19,27319,40328,97249.3%50.3%
TaxRs m6,1776,8109,34237.2%51.3%
Profit after taxRs m13,09612,59319,63055.9%49.9%
Gross profit margin%16.713.015.2
Effective tax rate%32.035.132.2
Net profit margin%10.37.210.0
* 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 55.3% on a year-on-year (YoY) basis. The expenses were up by 58.1% YoY during the same period.
  • The company's operating profit increased by 41.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 2QFY19 as against 16.7% in 2QFY18.
  • Depreciation charges increased by 2.4% and finance costs declined by 50.9% YoY, respectively.
  • Other income increased by 24.9% YoY during the quarter.
  • Net profit for the quarter increased by 49.9% YoY. Net profit margins during the quarter declined from 10.3% in 2QFY18 to 10.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.6% QoQ during the same period.
  • The company's operating profit increased by 30.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.2% in 2QFY19 as against 13.0% in 1QFY18.
  • Net profit for the quarter increased by 55.9% QoQ, while net profit margins increased from 7.2% in 1QFY18 to 10.0% in 2QFY19.

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

GAIL Share Price Performance

Over the last one year, GAIL share price has moved up from Rs 342.8 to Rs 369.0, registering a Gain of Rs 26.2 or around 7.6%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,492.7 (down 0.7%). Over the last one year it has moved down from 15,978.5 to 13,492.7, a gain of 2,486 points (down 15.6%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 369.0, the price to earnings (P/E) ratio of GAIL stands at 15.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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