GUJ. STATE PETRONET Announces Quarterly Results (4QFY19); Net Profit Down 2.6%

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GUJ. STATE PETRONET Announces Quarterly Results (4QFY19); Net Profit Down 2.6%
Fri, 10 May

GUJ. STATE PETRONET has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

GUJ. STATE PETRONET Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,5044,5384,339-4.4%23.8%
Other incomeRs m17176793.8%-53.8%
TurnoverRs m3,6754,6144,418-4.2%20.2%
ExpensesRs m6121,0061,0464.0%70.9%
Gross profitRs m2,8923,5323,293-6.8%13.9%
DepreciationRs m4404404758.1%8.0%
InterestRs m103551505-8.3%389.5%
Profit before taxRs m2,5202,6182,392-8.6%-5.1%
TaxRs m946882859-2.7%-9.2%
Profit after taxRs m1,5741,7361,533-11.7%-2.6%
Gross profit margin%82.577.875.9
Effective tax rate%37.533.735.9
Net profit margin%42.837.634.7
* 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 grew 23.8% on a year-on-year (YoY) basis. The expenses were up by 70.9% YoY during the same period.
  • The company's operating profit increased by 13.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 75.9% in 4QFY19 as against 82.5% in 4QFY18.
  • Depreciation charges increased by 8.0% and finance costs increased by 389.5% YoY, respectively.
  • Other income declined by 53.8% YoY during the quarter.
  • Net profit for the quarter declined by 2.6% YoY. Net profit margins during the quarter declined from 42.8% in 4QFY18 to 34.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.0% QoQ during the same period.
  • The company's operating profit declined by 6.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 75.9% in 4QFY19 as against 77.8% in 3QFY18.
  • Net profit for the quarter declined by 11.7% QoQ, while net profit margins declined from 37.6% in 3QFY18 to 34.7% in 4QFY19.

To see how GUJ. STATE PETRONET has performed over the last eight quarters, please visit here.

GUJ. STATE PETRONET Share Price Performance

Over the last one year, GUJ. STATE PETRONET share price has moved up from Rs 180.6 to Rs 176.0, registering a Loss of Rs 4.6 or around 2.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,586.4 (down 0.9%). Over the last one year it has moved down from 14,596.2 to 14,586.4, a gain of 10 points (down 0.1%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 176.0, the price to earnings (P/E) ratio of GUJ. STATE PETRONET stands at 12.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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