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HPCL Announces Quarterly Results (1QFY21); Net Profit Up 247.0%

HPCL Announces Quarterly Results (1QFY21); Net Profit Up 247.0%
Fri, 6 Nov

HPCL has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

HPCL Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-19*	3 Mar-20*	3 Jun-20*	QoQ Change	YoY Change
Net Sales	Rs m	748,081	715,546	461,076	-35.6%	-38.4%
Other income	Rs m	6,165	4,241	5,626	32.7%	-8.7%
Turnover	Rs m	754,246	719,786	466,701	-35.2%	-38.1%
Expenses	Rs m	731,642	722,611	417,539	-42.2%	-42.9%
Gross profit	Rs m	16,439	-17,095	43,536		164.8%
Depreciation	Rs m	8,151	8,114	8,661	6.7%	6.3%
Interest	Rs m	2,063	3,374	3,217	-4.7%	55.9%
Profit before tax	Rs m	12,390	-24,343	37,284		200.9%
Tax	Rs m	4,281	-24,611	9,146		113.6%
Profit after tax	Rs m	8,110	268	28,138	10399.4%	247.0%
Gross profit margin	%	2.2	-2.4	9.4
Effective tax rate	%	34.6	101.1	24.5
Net profit margin	%	1.1	0.0	6.0

* 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 fell 38.4% on a year-on-year (YoY) basis. The expenses were down by 42.9% YoY during the same period.
The company's operating profit increased by 164.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.4% in 1QFY21 as against 2.2% in 1QFY20.
Depreciation charges increased by 6.3% and finance costs increased by 55.9% YoY, respectively.
Other income declined by 8.7% YoY during the quarter.
Net profit for the quarter increased by 247.0% YoY. Net profit margins during the quarter increased from 1.1% in 1QFY20 to 6.0% in 1QFY21.

Quarter-on-Quarter Performance:

The company's operating income during the quarter fell 35.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 42.2% QoQ during the same period.
The company's operating profit declined by 354.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.4% in 1QFY21 as against 2.4% in 4QFY20.
Net profit for the quarter increased by 10399.4% QoQ, while net profit margins increased from 0.0% in 4QFY20 to 6.0% in 1QFY21.

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

Know More: Which way are the markets & the mutual fund industry headed?

HPCL Share Price Performance

Over the last one year, HPCL share price has moved down from Rs 313.8 to Rs 206.0, registering a Loss of Rs 107.8 or around 34.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 12,368.2 (up 0.9%). Over the last one year it has moved down from 15,531.6 to 12,368.2, a gain of 3,163 points (down 20.4%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 206.0, the price to earnings (P/E) ratio of HPCL stands at 5.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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Jan 28, 2021 09:44 AM

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