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ABB INDIA LTD. Announces Quarterly Results (3QFY19); Net Profit Down 25.0%

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ABB INDIA LTD. Announces Quarterly Results (3QFY19); Net Profit Down 25.0%
Tue, 5 Mar

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

ABB INDIA LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m27,79425,15419,663-21.8%-29.3%
Other incomeRs m188285160-43.9%-15.0%
TurnoverRs m27,98225,43919,823-22.1%-29.2%
ExpensesRs m24,85723,21417,509-24.6%-29.6%
Gross profitRs m2,9371,9402,15411.1%-26.7%
DepreciationRs m432371239-35.6%-44.7%
InterestRs m17820153-73.8%-70.4%
Profit before taxRs m2,5151,6532,02322.4%-19.6%
TaxRs m80056973629.3%-7.9%
Profit after taxRs m1,7151,0831,28618.7%-25.0%
Gross profit margin%10.67.711.0
Effective tax rate%31.834.436.4
Net profit margin%6.14.36.5
* 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 29.3% on a year-on-year (YoY) basis. The expenses were down by 29.6% YoY during the same period.
  • The company's operating profit declined by 26.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.0% in 3QFY19.
  • Depreciation charges declined by 44.7% and finance costs declined by 70.4% YoY, respectively.
  • Other income declined by 15.0% YoY during the quarter.
  • Net profit for the quarter declined by 25.0% YoY. Net profit margins during the quarter increased from 6.1% in 3QFY18 to 6.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 21.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 24.6% QoQ during the same period.
  • The company's operating profit increased by 11.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.0% in 3QFY19 as against 7.7% in 2QFY18.
  • Net profit for the quarter increased by 18.7% QoQ, while net profit margins increased from 4.3% in 2QFY18 to 6.5% in 3QFY19.

To see how ABB INDIA LTD. has performed over the last eight quarters, please visit here.

ABB INDIA LTD. Share Price Performance

Over the last one year, ABB INDIA LTD. share price has moved up from Rs 1,488.9 to Rs 1,249.6, registering a Loss of Rs 239.3 or around 16.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,329.2 (up 0.0%). Over the last one year it has moved down from 18,839.3 to 17,329.2, a gain of 1,510 points (down 8.0%).

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 1,249.6, the price to earnings (P/E) ratio of ABB INDIA LTD. stands at 60.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.3 times.

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