IOC Announces Quarterly Results (1QFY20); Net Profit Down 47.4%

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IOC Announces Quarterly Results (1QFY20); Net Profit Down 47.4%
Thu, 1 Aug

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

IOC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,497,4691,471,3491,501,3522.0%0.3%
Other incomeRs m5,85310,9936,314-42.6%7.9%
TurnoverRs m1,503,3221,482,3421,507,6661.7%0.3%
ExpensesRs m1,371,7111,357,6681,417,8524.4%3.4%
Gross profitRs m125,758113,68183,500-26.5%-33.6%
DepreciationRs m17,87923,33320,929-10.3%17.1%
InterestRs m10,31113,85715,0918.9%46.4%
Profit before taxRs m103,42287,48453,794-38.5%-48.0%
TaxRs m35,11030,16417,833-40.9%-49.2%
Profit after taxRs m68,31157,32035,961-37.3%-47.4%
Gross profit margin%8.47.75.6
Effective tax rate%33.934.533.2
Net profit margin%4.53.92.4
* 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 0.3% on a year-on-year (YoY) basis. The expenses were up by 3.4% YoY during the same period.
  • The company's operating profit declined by 33.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.6% in 1QFY20 as against 8.4% in 1QFY19.
  • Depreciation charges increased by 17.1% and finance costs increased by 46.4% YoY, respectively.
  • Other income increased by 7.9% YoY during the quarter.
  • Net profit for the quarter declined by 47.4% YoY. Net profit margins during the quarter declined from 4.5% in 1QFY19 to 2.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.4% QoQ during the same period.
  • The company's operating profit declined by 26.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.6% in 1QFY20 as against 7.7% in 4QFY19.
  • Net profit for the quarter declined by 37.3% QoQ, while net profit margins declined from 3.9% in 4QFY19 to 2.4% in 1QFY20.

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

IOC Share Price Performance

Over the last one year,IOC share price has moved down from Rs 168.0 to Rs 138.1, registering a Loss of Rs 30.0 or around 17.8%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,178.6 (down 0.4%). Over the last one year it has moved down from 15,172.4 to 13,178.6, a gain of 1,994 points (down 13.1%).

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 138.1, the price to earnings (P/E) ratio of IOC stands at 10.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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