GE POWER INDIA LTD Announces Quarterly Results (4QFY19); Net Profit Down 47.1%

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GE POWER INDIA LTD Announces Quarterly Results (4QFY19); Net Profit Down 47.1%
Tue, 4 Jun

GE POWER INDIA LTD has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

GE POWER INDIA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,6655,5163,446-37.5%-6.0%
Other incomeRs m162259561116.7%245.7%
TurnoverRs m3,8275,7754,007-30.6%4.7%
ExpensesRs m2,8354,7333,274-30.8%15.5%
Gross profitRs m820774155-79.9%-81.1%
DepreciationRs m1017971-9.8%-29.4%
InterestRs m8512398-20.9%15.4%
Profit before taxRs m797831548-34.1%-31.3%
TaxRs m282419275-34.4%-2.3%
Profit after taxRs m516411273-33.7%-47.1%
Gross profit margin%22.414.04.5
Effective tax rate%35.350.550.2
Net profit margin%13.57.16.8
* 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 6.0% on a year-on-year (YoY) basis. The expenses were up by 15.5% YoY during the same period.
  • The company's operating profit declined by 81.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 4QFY19 as against 22.4% in 4QFY18.
  • Depreciation charges declined by 29.4% and finance costs increased by 15.4% YoY, respectively.
  • Other income increased by 245.7% YoY during the quarter.
  • Net profit for the quarter declined by 47.1% YoY. Net profit margins during the quarter declined from 13.5% in 4QFY18 to 6.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 37.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 30.8% QoQ during the same period.
  • The company's operating profit declined by 79.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 4QFY19 as against 14.0% in 3QFY18.
  • Net profit for the quarter declined by 33.7% QoQ, while net profit margins declined from 7.1% in 3QFY18 to 6.8% in 4QFY19.

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 832.9 to Rs 922.9, registering a Gain of Rs 90.0 or around 10.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 20,231.4 (up 1.1%). Over the last one year it has moved up from 18,458.5 to 20,231.4, a gain of 1,773 points (up 9.6%).

Overall, the S&P BSE SENSEX is up 14.8% over the year.

Current Valuations

At the current price of Rs 922.9, the price to earnings (P/E) ratio of GE POWER INDIA LTD stands at 81.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.5 times.

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For the quarter ended June 2019, GE POWER INDIA LTD has posted a net profit of Rs 87 m (down 456.1% YoY). Sales on the other hand came in at Rs 4 bn (down 3.3% YoY). Read on for a complete analysis of GE POWER INDIA LTD's quarterly results.

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