OIL INDIA Announces Quarterly Results (2QFY20); Net Profit Down 27.2%

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OIL INDIA Announces Quarterly Results (2QFY20); Net Profit Down 27.2%
Tue, 12 Nov

OIL INDIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

OIL INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m37,43633,73432,136-4.7%-14.2%
Other incomeRs m2,8781,2272,679118.3%-6.9%
TurnoverRs m40,31434,96134,815-0.4%-13.6%
ExpensesRs m22,69020,20219,708-2.4%-13.1%
Gross profitRs m14,74613,53212,429-8.2%-15.7%
DepreciationRs m3,6563,9944,1544.0%13.6%
InterestRs m1,2571,2351,208-2.1%-3.9%
Profit before taxRs m12,7129,5309,7462.3%-23.3%
TaxRs m4,0923,2823,4735.8%-15.1%
Profit after taxRs m8,6206,2486,2720.4%-27.2%
Gross profit margin%39.440.138.7
Effective tax rate%32.234.435.6
Net profit margin%21.417.918.0
* 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 14.2% on a year-on-year (YoY) basis. The expenses were down by 13.1% YoY during the same period.
  • The company's operating profit declined by 15.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 38.7% in 2QFY20.
  • Depreciation charges increased by 13.6% and finance costs declined by 3.9% YoY, respectively.
  • Other income declined by 6.9% YoY during the quarter.
  • Net profit for the quarter declined by 27.2% YoY. Net profit margins during the quarter declined from 21.4% in 2QFY19 to 18.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.4% QoQ during the same period.
  • The company's operating profit declined by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.7% in 2QFY20 as against 40.1% in 1QFY19.
  • Net profit for the quarter increased by 0.4% QoQ, while net profit margins increased from 17.9% in 1QFY19 to 18.0% in 2QFY20.

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 199.0 to Rs 164.4, registering a Loss of Rs 34.6 or around 17.4%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,315.0 (up 1.0%). Over the last one year it has moved up from 13,320.3 to 15,315.0, a gain of 1,995 points (up 15.0%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 164.4, the price to earnings (P/E) ratio of OIL INDIA stands at 7.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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