HPCL Announces Quarterly Results (2QFY20); Net Profit Down 3.6%

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HPCL Announces Quarterly Results (2QFY20); Net Profit Down 3.6%
Tue, 12 Nov

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

HPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m733,761748,081664,552-11.2%-9.4%
Other incomeRs m7,1346,1653,957-35.8%-44.5%
TurnoverRs m740,895754,246668,509-11.4%-9.8%
ExpensesRs m712,541731,642641,362-12.3%-10.0%
Gross profitRs m18,22016,43923,18941.1%27.3%
DepreciationRs m7,3858,1518,121-0.4%10.0%
InterestRs m2,0072,0632,85638.5%42.3%
Profit before taxRs m15,96212,39016,17030.5%1.3%
TaxRs m5,0424,2815,64731.9%12.0%
Profit after taxRs m10,9208,11010,52329.8%-3.6%
Gross profit margin%2.52.23.5
Effective tax rate%31.634.634.9
Net profit margin%1.51.11.6
* 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 9.4% on a year-on-year (YoY) basis. The expenses were down by 10.0% YoY during the same period.
  • The company's operating profit increased by 27.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.5% in 2QFY20 as against 2.5% in 2QFY19.
  • Depreciation charges increased by 10.0% and finance costs increased by 42.3% YoY, respectively.
  • Other income declined by 44.5% YoY during the quarter.
  • Net profit for the quarter declined by 3.6% YoY. Net profit margins during the quarter increased from 1.5% in 2QFY19 to 1.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.3% QoQ during the same period.
  • The company's operating profit increased by 41.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.5% in 2QFY20 as against 2.2% in 1QFY19.
  • Net profit for the quarter increased by 29.8% QoQ, while net profit margins increased from 1.1% in 1QFY19 to 1.6% in 2QFY20.

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

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HPCL Share Price Performance

Over the last one year,HPCL share price has moved up from Rs 225.6 to Rs 298.6, registering a Gain of Rs 73.0 or around 32.4%.

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 298.6, the price to earnings (P/E) ratio of HPCL stands at 9.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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