OIL INDIA Announces Quarterly Results (1QFY22); Net Profit Up 1166.0%

Mon, 16 Aug

OIL INDIA has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

OIL INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	41,946	65,049	62,052	-4.6%	47.9%
Other income	Rs m	1,399	6,885	714	-89.6%	-48.9%
Turnover	Rs m	43,345	71,934	62,766	-12.7%	44.8%
Expenses	Rs m	34,164	46,181	40,441	-12.4%	18.4%
Gross profit	Rs m	6,849	18,168	21,610	18.9%	215.5%
Depreciation	Rs m	4,268	5,182	4,721	-8.9%	10.6%
Interest	Rs m	1,679	1,692	2,601	53.7%	54.9%
Profit before tax	Rs m	2,300	18,178	15,003	-17.5%	552.3%
Tax	Rs m	1,481	8,719	4,634	-46.8%	212.9%
Profit after tax	Rs m	819	9,459	10,368	9.6%	1166.0%
Gross profit margin	%	16.3	27.9	34.8
Effective tax rate	%	64.4	48.0	30.9
Net profit margin	%	1.9	13.1	16.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 47.9% on a year-on-year (YoY) basis. The expenses were up by 18.4% YoY during the same period.
• The company's operating profit increased by 215.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 1QFY22 as against 16.3% in 1QFY21.
• Depreciation charges increased by 10.6% and finance costs increased by 54.9% YoY, respectively.
• Other income declined by 48.9% YoY during the quarter.
• Net profit for the quarter increased by 1166.0% YoY. Net profit margins during the quarter increased from 1.9% in 1QFY21 to 16.5% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 4.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.4% QoQ during the same period.
• The company's operating profit increased by 18.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 34.8% in 1QFY22 as against 27.9% in 4QFY21.
• Net profit for the quarter increased by 9.6% QoQ, while net profit margins increased from 13.1% in 4QFY21 to 16.5% in 1QFY22.

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 up from Rs 94.1 to Rs 163.1, registering a Gain of Rs 69.0 or around 73.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,894.0 (up 0.9%). Over the last one year it has moved up from 13,189.1 to 15,894.0, a gain of 2,705 points (up 20.5%).

Overall, the S&P BSE SENSEX is up 44.8% over the year.

Current Valuations

At the current price of Rs 163.1, the price to earnings (P/E) ratio of OIL INDIA stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.