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ABAN OFFSHORE Announces Quarterly Results (3QFY19); Net Profit Down 34.6%

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ABAN OFFSHORE Announces Quarterly Results (3QFY19); Net Profit Down 34.6%
Tue, 5 Feb

ABAN OFFSHORE has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

ABAN OFFSHORE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,7612,1981,942-11.6%-48.3%
Other incomeRs m176386-99.0%-63.4%
TurnoverRs m3,7772,8361,949-31.3%-48.4%
ExpensesRs m2,6301,9851,746-12.0%-33.6%
Gross profitRs m1,13017519712.6%-82.6%
DepreciationRs m1,6691,7171,7320.9%3.8%
InterestRs m2,7282,8352,8801.6%5.5%
Profit before taxRs m-3,250-3,739-4,409
TaxRs m7611467-41.2%-11.7%
Profit after taxRs m-3,326-3,853-4,476
Gross profit margin%30.18.010.1
Effective tax rate%-2.3-3.1-1.5
Net profit margin%-88.1-135.9-229.7
* 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 33.6% YoY during the same period.
  • The company's operating profit declined by 82.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 3QFY19 as against 30.1% in 3QFY18.
  • Depreciation charges increased by 3.8% and finance costs increased by 5.5% YoY, respectively.
  • Other income declined by 63.4% YoY during the quarter.
  • Net profit for the quarter declined by 34.6% YoY. Net profit margins during the quarter declined from -88.1% in 3QFY18 to -229.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.0% QoQ during the same period.
  • The company's operating profit increased by 12.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.1% in 3QFY19 as against 8.0% in 2QFY18.
  • Net profit for the quarter declined by 16.2% QoQ, while net profit margins declined from -135.9% in 2QFY18 to -229.7% in 3QFY19.

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

ABAN OFFSHORE Share Price Performance

Over the last one year, ABAN OFFSHORE share price has moved up from Rs 190.9 to Rs 61.7, registering a Loss of Rs 129.2 or around 67.7%.

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 61.7, the price to book value (P/BV) ratio of ABAN OFFSHORE stands at 0.1 times.

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Here's an analysis of the annual report of ABAN OFFSHORE for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of ABAN OFFSHORE. Also includes updates on the valuation of ABAN OFFSHORE.

ABAN OFFSHORE Announces Quarterly Results (2QFY19); Net Profit Down 38.7% (Quarterly Result Update)

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For the quarter ended September 2018, ABAN OFFSHORE has posted a net profit of Rs 4 bn (down 38.7% YoY). Sales on the other hand came in at Rs 2 bn (down 33.2% YoY). Read on for a complete analysis of ABAN OFFSHORE's quarterly results.

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For the quarter ended June 2018, ABAN OFFSHORE has posted a net profit of Rs 3 bn (up 44.9% YoY). Sales on the other hand came in at Rs 3 bn (down 31.8% YoY). Read on for a complete analysis of ABAN OFFSHORE's quarterly results.

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