IOC Announces Quarterly Results (3QFY21); Net Profit Up 54.5%

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IOC Announces Quarterly Results (3QFY21); Net Profit Up 54.5%
Mon, 1 Feb

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

IOC Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m1,469,5251,167,1321,478,10226.6%0.6%
Other incomeRs m4,78611,5809,590-17.2%100.4%
TurnoverRs m1,474,3111,178,7121,487,69226.2%0.9%
ExpensesRs m1,397,6871,065,2131,380,16529.6%-1.3%
Gross profitRs m71,839101,91997,938-3.9%36.3%
DepreciationRs m24,61726,56327,2312.5%10.6%
InterestRs m14,4393,2037,336129.1%-49.2%
Profit before taxRs m37,56883,73372,960-12.9%94.2%
TaxRs m12,79723,40934,69548.2%171.1%
Profit after taxRs m24,77260,32438,265-36.6%54.5%
Gross profit margin%4.98.76.6
Effective tax rate%34.128.047.6
Net profit margin%1.75.12.6
* 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 grew 0.6% on a year-on-year (YoY) basis. The expenses were down by 1.3% YoY during the same period.
  • The company's operating profit increased by 36.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.6% in 3QFY21 as against 4.9% in 3QFY20.
  • Depreciation charges increased by 10.6% and finance costs declined by 49.2% YoY, respectively.
  • Other income increased by 100.4% YoY during the quarter.
  • Net profit for the quarter increased by 54.5% YoY. Net profit margins during the quarter increased from 1.7% in 3QFY20 to 2.6% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 29.6% QoQ during the same period.
  • The company's operating profit declined by 3.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.6% in 3QFY21 as against 8.7% in 2QFY20.
  • Net profit for the quarter declined by 36.6% QoQ, while net profit margins declined from 5.1% in 2QFY20 to 2.6% in 3QFY21.

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

Revealing at 5pm Today: The Great Indian Wealth Project

IOC Share Price Performance

Over the last one year, IOC share price has moved down from Rs 108.9 to Rs 95.2, registering a Loss of Rs 13.7 or around 12.6%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,085.6 (up 2.0%). Over the last one year it has moved up from 13,563.3 to 14,085.6, a gain of 522 points (up 3.9%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 95.2, the price to earnings (P/E) ratio of IOC stands at 32.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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