IOC Announces Quarterly Results (4QFY19); Net Profit Up 9.8%

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IOC Announces Quarterly Results (4QFY19); Net Profit Up 9.8%
Tue, 21 May

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

IOC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m1,367,3261,633,2521,471,349-9.9%7.6%
Other incomeRs m2,4813,33610,993229.5%343.1%
TurnoverRs m1,369,8071,636,5881,482,342-9.4%8.2%
ExpensesRs m1,257,1141,597,6961,357,668-15.0%8.0%
Gross profitRs m110,21335,557113,681219.7%3.1%
DepreciationRs m19,33621,37423,3339.2%20.7%
InterestRs m13,0299,98113,85738.8%6.4%
Profit before taxRs m80,3297,53887,4841060.6%8.9%
TaxRs m28,1484,38630,164587.7%7.2%
Profit after taxRs m52,1813,15257,3201718.5%9.8%
Gross profit margin%8.12.27.7
Effective tax rate%35.058.234.5
Net profit margin%3.80.23.9
* 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 7.6% on a year-on-year (YoY) basis. The expenses were up by 8.0% YoY during the same period.
  • The company's operating profit increased by 3.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.7% in 4QFY19.
  • Depreciation charges increased by 20.7% and finance costs increased by 6.4% YoY, respectively.
  • Other income increased by 343.1% YoY during the quarter.
  • Net profit for the quarter increased by 9.8% YoY. Net profit margins during the quarter increased from 3.8% in 4QFY18 to 3.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.0% QoQ during the same period.
  • The company's operating profit increased by 219.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.7% in 4QFY19 as against 2.2% in 3QFY18.
  • Net profit for the quarter increased by 1718.5% QoQ, while net profit margins increased from 0.2% in 3QFY18 to 3.9% in 4QFY19.

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 up from Rs 165.3 to Rs 155.4, registering a Loss of Rs 10.0 or around 6.0%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,219.9 (down 0.5%). Over the last one year it has moved up from 14,313.4 to 15,219.9, a gain of 907 points (up 6.3%).

Overall, the S&P BSE SENSEX is up 14.0% over the year.

Current Valuations

At the current price of Rs 155.4, the price to earnings (P/E) ratio of IOC stands at 9.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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