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MRPL Announces Quarterly Results (3QFY19); Net Profit Down 127.6%

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MRPL Announces Quarterly Results (3QFY19); Net Profit Down 127.6%
Tue, 12 Feb

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

MRPL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m174,198177,329202,49614.2%16.2%
Other incomeRs m202381368-3.6%82.1%
TurnoverRs m174,400177,710202,86414.2%16.3%
ExpensesRs m156,712175,886203,54415.7%29.9%
Gross profitRs m17,4851,694-1,150-167.9%-106.6%
DepreciationRs m1,7201,8241,791-1.8%4.1%
InterestRs m1,1591,173999-14.8%-13.8%
Profit before taxRs m14,809-921-3,572-124.1%
TaxRs m5,110-110-895-117.5%
Profit after taxRs m9,699-812-2,677-127.6%
Gross profit margin%10.01.0-0.6
Effective tax rate%34.511.925.0
Net profit margin%5.6-0.5-1.3
* 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 16.2% on a year-on-year (YoY) basis. The expenses were up by 29.9% YoY during the same period.
  • The company's operating profit declined by 106.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.6% in 3QFY19 as against 10.0% in 3QFY18.
  • Depreciation charges increased by 4.1% and finance costs declined by 13.8% YoY, respectively.
  • Other income increased by 82.1% YoY during the quarter.
  • Net profit for the quarter declined by 127.6% YoY. Net profit margins during the quarter declined from 5.6% in 3QFY18 to -1.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.7% QoQ during the same period.
  • The company's operating profit declined by 167.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.6% in 3QFY19 as against 1.0% in 2QFY18.
  • Net profit for the quarter declined by 229.9% QoQ, while net profit margins declined from -0.5% in 2QFY18 to -1.3% in 3QFY19.

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 up from Rs 118.9 to Rs 64.4, registering a Loss of Rs 54.5 or around 45.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,493.4 (up 0.3%). Over the last one year it has moved down from 15,637.8 to 13,493.4, a gain of 2,144 points (down 13.7%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 64.4, the price to earnings (P/E) ratio of MRPL stands at 20.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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