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JINDAL DRILLING Announces Quarterly Results (2QFY19); Net Profit Up 415.9%

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JINDAL DRILLING Announces Quarterly Results (2QFY19); Net Profit Up 415.9%
Mon, 12 Nov

JINDAL DRILLING has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

JINDAL DRILLING Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m395532510-4.0%29.3%
Other incomeRs m70176148-15.9%112.5%
TurnoverRs m464708658-7.0%41.8%
ExpensesRs m399512447-12.7%12.0%
Gross profitRs m-42064220.7%
DepreciationRs m2322233.6%1.3%
InterestRs m6203681.7%477.4%
Profit before taxRs m37154153-0.8%316.9%
TaxRs m145536-33.8%158.2%
Profit after taxRs m239911717.4%415.9%
Gross profit margin%-1.13.712.4
Effective tax rate%38.435.623.8
Net profit margin%4.914.017.7
* 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 29.3% on a year-on-year (YoY) basis. The expenses were up by 12.0% YoY during the same period.
  • The company's operating profit declined by 1611.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.4% in 2QFY19 as against 1.1% in 2QFY18.
  • Depreciation charges increased by 1.3% and finance costs increased by 477.4% YoY, respectively.
  • Other income increased by 112.5% YoY during the quarter.
  • Net profit for the quarter increased by 415.9% YoY. Net profit margins during the quarter increased from 4.9% in 2QFY18 to 17.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.7% QoQ during the same period.
  • The company's operating profit increased by 220.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.4% in 2QFY19 as against 3.7% in 1QFY18.
  • Net profit for the quarter increased by 17.4% QoQ, while net profit margins increased from 14.0% in 1QFY18 to 17.7% in 2QFY19.

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

JINDAL DRILLING Share Price Performance

Over the last one year, JINDAL DRILLING share price has moved up from Rs 159.0 to Rs 125.5, registering a Loss of Rs 33.6 or around 21.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,253.1 (up 0.0%). Over the last one year it has moved down from 18,736.1 to 18,253.1, a gain of 483 points (down 2.6%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 125.5, the price to book value (P/BV) ratio of JINDAL DRILLING stands at 0.2 times.

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