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ONGC Announces Quarterly Results (1QFY19); Net Profit Up 58.2%

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ONGC Announces Quarterly Results (1QFY19); Net Profit Up 58.2%
Mon, 6 Aug

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

ONGC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m190,735239,698272,12813.5%42.7%
Other incomeRs m8,54437,3376,499-82.6%-23.9%
TurnoverRs m199,279277,035278,6270.6%39.8%
ExpensesRs m102,502156,235136,201-12.8%32.9%
Gross profitRs m88,23483,464135,92762.9%54.1%
DepreciationRs m34,63132,45538,87219.8%12.2%
InterestRs m2,7695,9427,48626.0%170.3%
Profit before taxRs m59,37882,40596,06816.6%61.8%
TaxRs m20,53023,25334,62948.9%68.7%
Profit after taxRs m38,84759,15161,4393.9%58.2%
Gross profit margin%46.334.849.9
Effective tax rate%34.628.236.0
Net profit margin%19.521.422.1
* 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 42.7% on a year-on-year (YoY) basis. The expenses were up by 32.9% YoY during the same period.
  • The company's operating profit increased by 54.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.9% in 1QFY19 as against 46.3% in 1QFY18.
  • Depreciation charges and finance costs increased by 12.2% YoY and 170.3% YoY, respectively.
  • Other income declined by 23.9% YoY during the quarter.
  • Net profit for the quarter increased by 58.2% YoY. Net profit margins during the quarter increased from 19.5% in 1QFY18 to 22.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.8% QoQ during the same period.
  • The company's operating profit increased by 62.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 49.9% in 1QFY19 as against 34.8% in 4QFY18.
  • Net profit for the quarter increased by 3.9% QoQ, while net profit margins increased from 21.4% in 4QFY18 to 22.1% in 1QFY19.

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

ONGC Share Price Performance

Over the last one year, ONGC share price has moved up from Rs 166.6 to Rs 168.5, registering a Gain of Rs 1.9 or around 1.1%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,221.5 (up 0.1%). Over the last one year it has moved up from 14,818.6 to 15,221.5, a gain of 403 points (up 2.7%).

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 168.5, the price to earnings (P/E) ratio of ONGC stands at 9.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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