MANALI PETRO Announces Quarterly Results (3QFY19); Net Profit Down 33.1%

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MANALI PETRO Announces Quarterly Results (3QFY19); Net Profit Down 33.1%
Thu, 14 Feb

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

MANALI PETRO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,6221,8351,776-3.2%9.5%
Other incomeRs m92712-54.0%36.8%
TurnoverRs m1,6311,8621,788-3.9%9.6%
ExpensesRs m1,3171,5731,5830.6%20.2%
Gross profitRs m305262193-26.4%-36.8%
DepreciationRs m2126273.6%28.0%
InterestRs m455-13.0%10.7%
Profit before taxRs m289257174-32.6%-39.9%
TaxRs m1179059-34.6%-49.7%
Profit after taxRs m172168115-31.5%-33.1%
Gross profit margin%18.814.310.8
Effective tax rate%40.434.833.8
Net profit margin%10.59.06.4
* 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 9.5% on a year-on-year (YoY) basis. The expenses were up by 20.2% YoY during the same period.
  • The company's operating profit declined by 36.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 3QFY19 as against 18.8% in 3QFY18.
  • Depreciation charges increased by 28.0% and finance costs increased by 10.7% YoY, respectively.
  • Other income increased by 36.8% YoY during the quarter.
  • Net profit for the quarter declined by 33.1% YoY. Net profit margins during the quarter declined from 10.5% in 3QFY18 to 6.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.6% QoQ during the same period.
  • The company's operating profit declined by 26.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 3QFY19 as against 14.3% in 2QFY18.
  • Net profit for the quarter declined by 31.5% QoQ, while net profit margins declined from 9.0% in 2QFY18 to 6.4% in 3QFY19.

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

MANALI PETRO Share Price Performance

Over the last one year, MANALI PETRO share price has moved up from Rs 38.8 to Rs 23.1, registering a Loss of Rs 15.7 or around 40.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 12,947.4 (down 1.7%). Over the last one year it has moved down from 15,584.1 to 12,947.4, a gain of 2,637 points (down 16.9%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 23.1, the price to earnings (P/E) ratio of MANALI PETRO stands at 5.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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For the quarter ended June 2019, MANALI PETRO has posted a net profit of Rs 112 m (down 29.9% YoY). Sales on the other hand came in at Rs 2 bn (up 2.0% YoY). Read on for a complete analysis of MANALI PETRO's quarterly results.

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