CHENNAI PETROLEUM Announces Quarterly Results (2QFY19); Net Profit Down 92.5%

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CHENNAI PETROLEUM Announces Quarterly Results (2QFY19); Net Profit Down 92.5%
Fri, 9 Nov

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

CHENNAI PETROLEUM Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m104,957123,558150,84022.1%43.7%
Other incomeRs m1018114074.4%39.7%
TurnoverRs m105,058123,638150,98122.1%43.7%
ExpensesRs m98,603119,085148,40524.6%50.5%
Gross profitRs m6,3544,4722,462-45.0%-61.3%
DepreciationRs m7301,0361,0763.9%47.4%
InterestRs m6599851,0557.1%60.1%
Profit before taxRs m5,0662,532472-81.4%-90.7%
TaxRs m1,915972235-75.8%-87.7%
Profit after taxRs m3,1511,560236-84.9%-92.5%
Gross profit margin%6.13.61.6
Effective tax rate%37.838.449.9
Net profit margin%3.01.30.2
* 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 43.7% on a year-on-year (YoY) basis. The expenses were up by 50.5% YoY during the same period.
  • The company's operating profit declined by 61.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 2QFY19 as against 6.1% in 2QFY18.
  • Depreciation charges increased by 47.4% and finance costs increased by 60.1% YoY, respectively.
  • Other income increased by 39.7% YoY during the quarter.
  • Net profit for the quarter declined by 92.5% YoY. Net profit margins during the quarter declined from 3.0% in 2QFY18 to 0.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 22.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 24.6% QoQ during the same period.
  • The company's operating profit declined by 45.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 2QFY19 as against 3.6% in 1QFY18.
  • Net profit for the quarter declined by 84.9% QoQ, while net profit margins declined from 1.3% in 1QFY18 to 0.2% in 2QFY19.

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

CHENNAI PETROLEUM Share Price Performance

Over the last one year, CHENNAI PETROLEUM share price has moved up from Rs 445.2 to Rs 270.3, registering a Loss of Rs 174.9 or around 39.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,546.9 (up 0.1%). Over the last one year it has moved down from 16,092.1 to 13,546.9, a gain of 2,545 points (down 15.8%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 270.3, the price to earnings (P/E) ratio of CHENNAI PETROLEUM stands at 5.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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