First Cut -Essar Oil Q3FY13
Rajesh Desai
Dear Sir/Madam,
Essar Oil ltd. announced its Q3 results on January 15, 2013.
EssarOiL Ltd. reported a Total income of INR 23882 cr which is up by staggering ~86% on YoY basis while its net profit stood at INR32.00cr against a loss of INR3986crore on YoY basis Both EBITDA and PAT margins more or less flat on YoY and QoQ basis. The company achieved the highest ever throughput by processing 5.14MMT (Million Metric Tonnes) of crude during the quarter.
A snapshot of the company’s quarterly performances on a standalone basis is as follows:
|
Essar Oil | |||||
|
STANDALONE | |||||
Description |
Q3'13 |
Q2'13 |
Q3'13 |
QoQ(%) |
YoY(%) |
|
Total Income |
23882.00 |
21023.00 |
12869.00 |
14% |
86% |
|
Total Expenditure |
22815.00 |
20425.00 |
12451.00 |
|
|
|
PBIDT(ExclOI) |
1067.00 |
598.00 |
418.00 |
78% |
155% |
|
EBITDA margins |
4% |
3% |
3% |
100bps |
100bps |
|
Other Income |
174.00 |
571.00 |
72.00 |
|
|
|
Operating Profit |
1241.00 |
1169.00 |
490.00 |
|
|
|
Interest |
882.00 |
738.00 |
354.00 |
|
|
|
Exceptional Items |
- |
- |
-4015.00 |
|
|
|
PBDT |
359.00 |
431.00 |
-3879.00 |
|
|
|
Depreciation |
327.00 |
326.00 |
189.00 |
|
|
|
PBT |
32.00 |
105.00 |
-4068.00 |
|
|
|
Tax |
0.00 |
0.00 |
-82.00 |
|
|
|
Profit After Tax |
32.00 |
105.00 |
-3986.00 |
|
|
|
PAT margins |
0.13% |
0.50% |
-30.97% |
- |
- |
|
Equity Capital |
1366.00 |
1366.00 |
1366.00 |
|
|
|
Face Value(InRs) |
10.00 |
10.00 |
10.00 |
|
|
|
EPS |
0.23 |
0.77 |
-29.18 |
|
|
|
Figures in INR Crore.EPS represents BASIC EPS | |||||
* GRMs $9.75/bbl vs. $2.82/bbl YoY.
*2.8 times in processing of Ultra Heavy Crude to 67% vs. 24%YoY.
Regards,
Team Microsec Research
Microsec Capital Limited
Tel: 91 33 30512100
Fax: 91 33 30512020
--
CA. Rajesh Desai