MRPL Announces Quarterly Results (1QFY20); Net Profit Down 238.2%

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MRPL Announces Quarterly Results (1QFY20); Net Profit Down 238.2%
Mon, 5 Aug

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

MRPL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m165,827177,499112,001-36.9%-32.5%
Other incomeRs m558246204-17.2%-63.5%
TurnoverRs m166,385177,745112,205-36.9%-32.6%
ExpensesRs m157,696169,338116,488-31.2%-26.1%
Gross profitRs m7,8698,127-4,487-155.2%-157.0%
DepreciationRs m1,7042,2491,906-15.3%11.8%
InterestRs m1,1061,4401,4410.0%30.3%
Profit before taxRs m5,6174,684-7,630-262.9%-235.8%
TaxRs m1,9981,495-2,628-275.8%-231.6%
Profit after taxRs m3,6203,189-5,001-256.8%-238.2%
Gross profit margin%4.74.6-4.0
Effective tax rate%35.631.934.5
Net profit margin%2.21.8-4.5
* 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 fell 32.5% on a year-on-year (YoY) basis. The expenses were down by 26.1% YoY during the same period.
  • The company's operating profit declined by 157.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.0% in 1QFY20 as against 4.7% in 1QFY19.
  • Depreciation charges increased by 11.8% and finance costs increased by 30.3% YoY, respectively.
  • Other income declined by 63.5% YoY during the quarter.
  • Net profit for the quarter declined by 238.2% YoY. Net profit margins during the quarter declined from 2.2% in 1QFY19 to -4.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 36.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 31.2% QoQ during the same period.
  • The company's operating profit declined by 155.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.0% in 1QFY20 as against 4.6% in 4QFY19.
  • Net profit for the quarter declined by 256.8% QoQ, while net profit margins declined from 1.8% in 4QFY19 to -4.5% in 1QFY20.

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

MRPL Share Price Performance

Over the last one year,MRPL share price has moved down from Rs 84.1 to Rs 53.5, registering a Loss of Rs 30.6 or around 36.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 12,776.2 (down 2.2%). Over the last one year it has moved down from 15,206.2 to 12,776.2, a gain of 2,430 points (down 16.0%).

Overall, the S&P BSE SENSEX is down 1.7% over the year.

Current Valuations

At the current price of Rs 53.5, the price to book value (P/BV) ratio of MRPL stands at 0.9 times.

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