MRPL Announces Quarterly Results (4QFY19); Net Profit Down 41.2%

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MRPL Announces Quarterly Results (4QFY19); Net Profit Down 41.2%
Tue, 14 May

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

MRPL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m187,531202,496177,499-12.3%-5.3%
Other incomeRs m771368246-33.1%-68.1%
TurnoverRs m188,302202,864177,745-12.4%-5.6%
ExpensesRs m177,087203,544169,338-16.8%-4.4%
Gross profitRs m10,444-1,1508,127-22.2%
DepreciationRs m1,6171,7912,24925.6%39.1%
InterestRs m1,1189991,44044.2%28.8%
Profit before taxRs m8,479-3,5724,684-44.8%
TaxRs m3,058-8951,495-51.1%
Profit after taxRs m5,421-2,6773,189-41.2%
Gross profit margin%5.6-0.64.6
Effective tax rate%36.125.031.9
Net profit margin%2.9-1.31.8
* 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 5.3% on a year-on-year (YoY) basis. The expenses were down by 4.4% YoY during the same period.
  • The company's operating profit declined by 22.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.6% in 4QFY19 as against 5.6% in 4QFY18.
  • Depreciation charges increased by 39.1% and finance costs increased by 28.8% YoY, respectively.
  • Other income declined by 68.1% YoY during the quarter.
  • Net profit for the quarter declined by 41.2% YoY. Net profit margins during the quarter declined from 2.9% in 4QFY18 to 1.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.8% QoQ during the same period.
  • The company's operating profit increased by 806.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.6% in 4QFY19 as against 0.6% in 3QFY18.
  • Net profit for the quarter increased by 219.1% QoQ, while net profit margins increased from -1.3% in 3QFY18 to 1.8% in 4QFY19.

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 106.4 to Rs 63.5, registering a Loss of Rs 43.0 or around 40.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,290.8 (up 0.3%). Over the last one year it has moved down from 14,774.0 to 14,290.8, a gain of 483 points (down 3.3%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 63.5, the price to earnings (P/E) ratio of MRPL stands at 33.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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