OIL INDIA Announces Quarterly Results (1QFY21); Net Profit Down 139.8%

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OIL INDIA Announces Quarterly Results (1QFY21); Net Profit Down 139.8%
Mon, 31 Aug

OIL INDIA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

OIL INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m33,73425,89617,439-32.7%-48.3%
Other incomeRs m1,2279,9421,306-86.9%6.4%
TurnoverRs m34,96135,83718,745-47.7%-46.4%
ExpensesRs m20,20236,91015,467-58.1%-23.4%
Gross profitRs m13,532-11,0141,038-92.3%
DepreciationRs m3,9942,5283,58541.8%-10.2%
InterestRs m1,2351,3271,278-3.7%3.5%
Profit before taxRs m9,530-4,928-2,519-126.4%
TaxRs m3,282-14,184-33-101.0%
Profit after taxRs m6,2489,256-2,486-126.9%-139.8%
Gross profit margin%40.1-42.56.0
Effective tax rate%34.4287.81.3
Net profit margin%17.925.8-13.3
* 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 fell 48.3% on a year-on-year (YoY) basis. The expenses were down by 23.4% YoY during the same period.
  • The company's operating profit declined by 92.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.0% in 1QFY21 as against 40.1% in 1QFY20.
  • Depreciation charges declined by 10.2% and finance costs increased by 3.5% YoY, respectively.
  • Other income increased by 6.4% YoY during the quarter.
  • Net profit for the quarter declined by 139.8% YoY. Net profit margins during the quarter declined from 17.9% in 1QFY20 to -13.3% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 58.1% QoQ during the same period.
  • The company's operating profit declined by 109.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.0% in 1QFY21 as against 42.5% in 4QFY20.
  • Net profit for the quarter declined by 126.9% QoQ, while net profit margins declined from 25.8% in 4QFY20 to -13.3% in 1QFY21.

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

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OIL INDIA Share Price Performance

Over the last one year,OIL INDIA share price has moved down from Rs 148.0 to Rs 97.4, registering a Loss of Rs 50.7 or around 34.2%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,554.2 (up 1.5%). Over the last one year it has moved up from 13,163.7 to 13,554.2, a gain of 390 points (up 3.0%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 97.4, the price to earnings (P/E) ratio of OIL INDIA stands at 6.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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