CHENNAI PETROLEUM Announces Quarterly Results (3QFY19); Net Profit Down 195.0%

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CHENNAI PETROLEUM Announces Quarterly Results (3QFY19); Net Profit Down 195.0%
Wed, 30 Jan

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

CHENNAI PETROLEUM Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m113,333150,840120,055-20.4%5.9%
Other incomeRs m73914099-29.8%-86.7%
TurnoverRs m114,072150,981120,154-20.4%5.3%
ExpensesRs m104,997148,405123,508-16.8%17.6%
Gross profitRs m8,3362,462-3,454-240.3%-141.4%
DepreciationRs m8511,0761,1052.7%29.9%
InterestRs m1,0171,0551,0913.5%7.3%
Profit before taxRs m7,208472-5,551-1277.4%-177.0%
TaxRs m3,346235-1,882-899.7%-156.3%
Profit after taxRs m3,862236-3,669-1654.0%-195.0%
Gross profit margin%7.41.6-2.9
Effective tax rate%46.449.933.9
Net profit margin%3.40.2-3.1
* 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 5.9% on a year-on-year (YoY) basis. The expenses were up by 17.6% YoY during the same period.
  • The company's operating profit declined by 141.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.9% in 3QFY19 as against 7.4% in 3QFY18.
  • Depreciation charges increased by 29.9% and finance costs increased by 7.3% YoY, respectively.
  • Other income declined by 86.7% YoY during the quarter.
  • Net profit for the quarter declined by 195.0% YoY. Net profit margins during the quarter declined from 3.4% in 3QFY18 to -3.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 20.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.8% QoQ during the same period.
  • The company's operating profit declined by 240.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.9% in 3QFY19 as against 1.6% in 2QFY18.
  • Net profit for the quarter declined by 1654.0% QoQ, while net profit margins declined from 0.2% in 2QFY18 to -3.1% in 3QFY19.

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 417.9 to Rs 241.8, registering a Loss of Rs 176.2 or around 42.2%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,408.9 (down 0.6%). Over the last one year it has moved down from 16,290.6 to 13,408.9, a gain of 2,882 points (down 17.7%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 241.8, the price to book value (P/BV) ratio of CHENNAI PETROLEUM stands at 0.9 times.

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