OIL INDIA Announces Quarterly Results (3QFY20); Net Profit Down 67.1%

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OIL INDIA Announces Quarterly Results (3QFY20); Net Profit Down 67.1%
Wed, 12 Feb

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

OIL INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m35,14032,13629,520-8.1%-16.0%
Other incomeRs m6,0122,6791,354-49.5%-77.5%
TurnoverRs m41,15334,81530,874-11.3%-25.0%
ExpensesRs m19,92619,70818,560-5.8%-6.9%
Gross profitRs m15,21512,42910,960-11.8%-28.0%
DepreciationRs m3,6944,1544,2432.1%14.9%
InterestRs m1,2161,2081,2180.8%0.1%
Profit before taxRs m16,3179,7466,853-29.7%-58.0%
TaxRs m3,9833,4732,789-19.7%-30.0%
Profit after taxRs m12,3356,2724,064-35.2%-67.1%
Gross profit margin%43.338.737.1
Effective tax rate%24.435.640.7
Net profit margin%30.018.013.2
* 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 16.0% on a year-on-year (YoY) basis. The expenses were down by 6.9% YoY during the same period.
  • The company's operating profit declined by 28.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.1% in 3QFY20 as against 43.3% in 3QFY19.
  • Depreciation charges increased by 14.9% and finance costs increased by 0.1% YoY, respectively.
  • Other income declined by 77.5% YoY during the quarter.
  • Net profit for the quarter declined by 67.1% YoY. Net profit margins during the quarter declined from 30.0% in 3QFY19 to 13.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.8% QoQ during the same period.
  • The company's operating profit declined by 11.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.1% in 3QFY20 as against 38.7% in 2QFY19.
  • Net profit for the quarter declined by 35.2% QoQ, while net profit margins declined from 18.0% in 2QFY19 to 13.2% in 3QFY20.

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 169.9 to Rs 135.5, registering a Loss of Rs 34.4 or around 20.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 14,267.9 (up 0.2%). Over the last one year it has moved up from 13,449.2 to 14,267.9, a gain of 819 points (up 6.1%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 135.5, the price to earnings (P/E) ratio of OIL INDIA stands at 10.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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