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GAIL Announces Quarterly Results (3QFY19); Net Profit Up 33.2%

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GAIL Announces Quarterly Results (3QFY19); Net Profit Up 33.2%
Wed, 13 Feb

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

GAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m144,143192,753197,8902.7%37.3%
Other incomeRs m3,0273,6562,201-39.8%-27.3%
TurnoverRs m147,171196,410200,0901.9%36.0%
ExpensesRs m124,445163,478171,1554.7%37.5%
Gross profitRs m19,69929,27626,735-8.7%35.7%
DepreciationRs m3,6683,5063,6343.7%-0.9%
InterestRs m479455227-50.2%-52.7%
Profit before taxRs m18,58028,97225,075-13.5%35.0%
TaxRs m5,9579,3428,262-11.6%38.7%
Profit after taxRs m12,62219,63016,812-14.4%33.2%
Gross profit margin%13.715.213.5
Effective tax rate%32.132.233.0
Net profit margin%8.610.08.4
* 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 37.3% on a year-on-year (YoY) basis. The expenses were up by 37.5% YoY during the same period.
  • The company's operating profit increased by 35.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.5% in 3QFY19.
  • Depreciation charges declined by 0.9% and finance costs declined by 52.7% YoY, respectively.
  • Other income declined by 27.3% YoY during the quarter.
  • Net profit for the quarter increased by 33.2% YoY. Net profit margins during the quarter declined from 8.6% in 3QFY18 to 8.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.7% QoQ during the same period.
  • The company's operating profit declined by 8.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.5% in 3QFY19 as against 15.2% in 2QFY18.
  • Net profit for the quarter declined by 14.4% QoQ, while net profit margins declined from 10.0% in 2QFY18 to 8.4% in 3QFY19.

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 348.3 to Rs 324.7, registering a Loss of Rs 23.7 or around 6.8%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,385.1 (down 0.5%). Over the last one year it has moved down from 15,637.8 to 13,385.1, a gain of 2,253 points (down 14.4%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 324.7, the price to earnings (P/E) ratio of GAIL stands at 12.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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

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For the quarter ended September 2018, GAIL has posted a net profit of Rs 20 bn (up 49.9% YoY). Sales on the other hand came in at Rs 193 bn (up 55.3% YoY). Read on for a complete analysis of GAIL's quarterly results.

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