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ONGC Announces Quarterly Results (2QFY19); Net Profit Up 61.1%

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ONGC Announces Quarterly Results (2QFY19); Net Profit Up 61.1%
Mon, 5 Nov

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

ONGC Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m189,649272,128279,8922.9%47.6%
Other incomeRs m19,3156,49923,942268.4%24.0%
TurnoverRs m208,963278,627303,8349.0%45.4%
ExpensesRs m98,288136,201135,183-0.7%37.5%
Gross profitRs m91,360135,927144,7096.5%58.4%
DepreciationRs m35,05838,87235,310-9.2%0.7%
InterestRs m3,2747,4866,291-16.0%92.1%
Profit before taxRs m72,34396,068127,05032.3%75.6%
TaxRs m21,03634,62944,40428.2%111.1%
Profit after taxRs m51,30761,43982,64634.5%61.1%
Gross profit margin%48.249.951.7
Effective tax rate%29.136.035.0
Net profit margin%24.622.127.2
* 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 grew 47.6% on a year-on-year (YoY) basis. The expenses were up by 37.5% YoY during the same period.
  • The company's operating profit increased by 58.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 51.7% in 2QFY19 as against 48.2% in 2QFY18.
  • Depreciation charges increased by 0.7% and finance costs increased by 92.1% YoY, respectively.
  • Other income increased by 24.0% YoY during the quarter.
  • Net profit for the quarter increased by 61.1% YoY. Net profit margins during the quarter increased from 24.6% in 2QFY18 to 27.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.7% QoQ during the same period.
  • The company's operating profit increased by 6.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 51.7% in 2QFY19 as against 49.9% in 1QFY18.
  • Net profit for the quarter increased by 34.5% QoQ, while net profit margins increased from 22.1% in 1QFY18 to 27.2% in 2QFY19.

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 191.4 to Rs 155.1, registering a Loss of Rs 36.3 or around 18.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,446.6 (down 1.6%). Over the last one year it has moved down from 16,524.1 to 13,446.6, a gain of 3,077 points (down 18.6%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 155.1, the price to earnings (P/E) ratio of ONGC stands at 7.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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