GE T&D INDIA Announces Quarterly Results (1QFY19); Net Profit Up 33.0%

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GE T&D INDIA Announces Quarterly Results (1QFY19); Net Profit Up 33.0%
Tue, 31 Jul

GE T&D INDIA has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

GE T&D INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m12,6348,13911,62442.8%-8.0%
Other incomeRs m422670192-71.3%-54.5%
TurnoverRs m13,0568,81011,81634.1%-9.5%
ExpensesRs m11,5798,02110,18227.0%-12.1%
Gross profitRs m1,0551191,4421113.7%36.7%
DepreciationRs m224229217-5.1%-3.3%
InterestRs m2781411559.5%-44.3%
Profit before taxRs m9754191,262201.1%29.5%
TaxRs m358141442212.7%23.5%
Profit after taxRs m617278821195.1%33.0%
Gross profit margin%8.31.512.4
Effective tax rate%36.733.735.0
Net profit margin%4.73.26.9
* 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 fell 8.0% on a year-on-year (YoY) basis. The expenses were down by 12.1% YoY during the same period.
  • The company's operating profit increased by 36.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.4% in 1QFY19 as against 8.3% in 1QFY18.
  • Depreciation charges and finance costs declined by 3.3% YoY and 44.3% YoY, respectively.
  • Other income declined by 54.5% YoY during the quarter.
  • Net profit for the quarter increased by 33.0% YoY. Net profit margins during the quarter increased from 4.7% in 1QFY18 to 6.9% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 42.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 27.0% QoQ during the same period.
  • The company's operating profit increased by 1113.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.4% in 1QFY19 as against 1.5% in 4QFY18.
  • Net profit for the quarter increased by 195.1% QoQ, while net profit margins increased from 3.2% in 4QFY18 to 6.9% in 1QFY19.

To see how GE T&D INDIA has performed over the last eight quarters, please visit here.

GE T&D INDIA Share Price Performance

Over the last one year, GE T&D INDIA share price has moved up from Rs 394.7 to Rs 281.0, registering a Loss of Rs 113.7 or around 28.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,245.2 (up 0.7%). Over the last one year it has moved up from 17,972.6 to 18,245.2, a gain of 273 points (up 1.5%).

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 281.0, the price to earnings (P/E) ratio of GE T&D INDIA stands at 31.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.0 times.

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