GE T&D INDIA Announces Quarterly Results (3QFY19); Net Profit Down 26.1%

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GE T&D INDIA Announces Quarterly Results (3QFY19); Net Profit Down 26.1%
Tue, 26 Feb

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

GE T&D INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m14,3869,93311,67817.6%-18.8%
Other incomeRs m1,05123897-59.2%-90.8%
TurnoverRs m15,43710,17111,77515.8%-23.7%
ExpensesRs m13,8829,01210,55217.1%-24.0%
Gross profitRs m5049211,12622.2%123.5%
DepreciationRs m218215202-6.0%-7.2%
InterestRs m238143141-1.6%-41.0%
Profit before taxRs m1,0998018809.9%-19.9%
TaxRs m38128735022.1%-8.2%
Profit after taxRs m7185155313.0%-26.1%
Gross profit margin%3.59.39.6
Effective tax rate%34.735.839.7
Net profit margin%4.65.14.5
* 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 18.8% on a year-on-year (YoY) basis. The expenses were down by 24.0% YoY during the same period.
  • The company's operating profit increased by 123.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.6% in 3QFY19 as against 3.5% in 3QFY18.
  • Depreciation charges declined by 7.2% and finance costs declined by 41.0% YoY, respectively.
  • Other income declined by 90.8% YoY during the quarter.
  • Net profit for the quarter declined by 26.1% YoY. Net profit margins during the quarter declined from 4.6% in 3QFY18 to 4.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 17.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 17.1% QoQ during the same period.
  • The company's operating profit increased by 22.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.6% in 3QFY19 as against 9.3% in 2QFY18.
  • Net profit for the quarter increased by 3.0% QoQ, while net profit margins declined from 5.1% in 2QFY18 to 4.5% in 3QFY19.

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 408.1 to Rs 282.0, registering a Loss of Rs 126.1 or around 30.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,581.1 (down 1.5%). Over the last one year it has moved down from 19,236.9 to 16,581.1, a gain of 2,656 points (down 13.8%).

Overall, the S&P BSE SENSEX is up 3.9% over the year.

Current Valuations

At the current price of Rs 282.0, the price to earnings (P/E) ratio of GE T&D INDIA stands at 33.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.1 times.

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