GE POWER INDIA LTD Announces Quarterly Results (2QFY19); Net Profit Down 36.1%

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GE POWER INDIA LTD Announces Quarterly Results (2QFY19); Net Profit Down 36.1%
Tue, 27 Nov

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

GE POWER INDIA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,6204,4315,63427.1%115.1%
Other incomeRs m3442422649.2%-23.2%
TurnoverRs m2,9644,6735,89826.2%99.0%
ExpensesRs m2,6334,3324,90113.1%86.1%
Gross profitRs m-1423-89-483.2%
DepreciationRs m1458876-13.5%-47.4%
InterestRs m5895950.1%64.1%
Profit before taxRs m128824-95.2%-96.9%
TaxRs m4658-49-184.5%-206.8%
Profit after taxRs m822453115.2%-36.1%
Gross profit margin%-0.50.5-1.6
Effective tax rate%35.670.2-1,246.2
Net profit margin%2.80.50.9
* 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 115.1% on a year-on-year (YoY) basis. The expenses were up by 86.1% YoY during the same period.
  • The company's operating profit increased by 553.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 2QFY19 as against 0.5% in 2QFY18.
  • Depreciation charges declined by 47.4% and finance costs increased by 64.1% YoY, respectively.
  • Other income declined by 23.2% YoY during the quarter.
  • Net profit for the quarter declined by 36.1% YoY. Net profit margins during the quarter declined from 2.8% in 2QFY18 to 0.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 27.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.1% QoQ during the same period.
  • The company's operating profit declined by 483.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 2QFY19 as against 0.5% in 1QFY18.
  • Net profit for the quarter increased by 115.2% QoQ, while net profit margins increased from 0.5% in 1QFY18 to 0.9% in 2QFY19.

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

GE POWER INDIA LTD Share Price Performance

Over the last one year, GE POWER INDIA LTD share price has moved up from Rs 657.2 to Rs 798.0, registering a Gain of Rs 140.9 or around 21.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,531.5 (up 0.1%). Over the last one year it has moved up from 18,513.1 to 18,531.5, a gain of 18 points (up 0.1%).

Overall, the S&P BSE SENSEX is up 5.0% over the year.

Current Valuations

At the current price of Rs 798.0, the price to earnings (P/E) ratio of GE POWER INDIA LTD stands at 313.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.

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