GAIL Announces Quarterly Results (2QFY20); Net Profit Down 45.8%

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GAIL Announces Quarterly Results (2QFY20); Net Profit Down 45.8%
Tue, 12 Nov

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

GAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m192,753183,115180,411-1.5%-6.4%
Other incomeRs m3,6561,5124,401191.1%20.4%
TurnoverRs m196,410184,626184,8110.1%-5.9%
ExpensesRs m163,478160,525164,7842.7%0.8%
Gross profitRs m29,27622,59015,627-30.8%-46.6%
DepreciationRs m3,5064,0574,3988.4%25.4%
InterestRs m45523927515.0%-39.5%
Profit before taxRs m28,97219,80515,355-22.5%-47.0%
TaxRs m9,3426,9304,713-32.0%-49.6%
Profit after taxRs m19,63012,87510,643-17.3%-45.8%
Gross profit margin%15.212.38.7
Effective tax rate%32.235.030.7
Net profit margin%10.07.05.8
* 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 6.4% on a year-on-year (YoY) basis. The expenses were up by 0.8% YoY during the same period.
  • The company's operating profit declined by 46.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 2QFY20 as against 15.2% in 2QFY19.
  • Depreciation charges increased by 25.4% and finance costs declined by 39.5% YoY, respectively.
  • Other income increased by 20.4% YoY during the quarter.
  • Net profit for the quarter declined by 45.8% YoY. Net profit margins during the quarter declined from 10.0% in 2QFY19 to 5.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.7% QoQ during the same period.
  • The company's operating profit declined by 30.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 2QFY20 as against 12.3% in 1QFY19.
  • Net profit for the quarter declined by 17.3% QoQ, while net profit margins declined from 7.0% in 1QFY19 to 5.8% in 2QFY20.

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 down from Rs 182.3 to Rs 130.4, registering a Loss of Rs 51.9 or around 28.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,315.0 (up 1.0%). Over the last one year it has moved up from 13,320.3 to 15,315.0, a gain of 1,995 points (up 15.0%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 130.4, the price to earnings (P/E) ratio of GAIL stands at 5.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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