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GE T&D INDIA Announces Quarterly Results (4QFY19); Net Profit Down 6.2%

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GE T&D INDIA Announces Quarterly Results (4QFY19); Net Profit Down 6.2%
Fri, 24 May

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

GE T&D INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m8,13911,6788,953-23.3%10.0%
Other incomeRs m6709756-42.2%-91.6%
TurnoverRs m8,81011,7759,009-23.5%2.3%
ExpensesRs m8,02110,5528,183-22.5%2.0%
Gross profitRs m1191,126770-31.6%548.1%
DepreciationRs m229202198-1.9%-13.2%
InterestRs m14114122661.0%60.0%
Profit before taxRs m419880402-54.4%-4.2%
TaxRs m141350141-59.8%-0.4%
Profit after taxRs m278531261-50.8%-6.2%
Gross profit margin%1.59.68.6
Effective tax rate%33.739.735.0
Net profit margin%3.24.52.9
* 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 10.0% on a year-on-year (YoY) basis. The expenses were up by 2.0% YoY during the same period.
  • The company's operating profit increased by 548.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.6% in 4QFY19 as against 1.5% in 4QFY18.
  • Depreciation charges declined by 13.2% and finance costs increased by 60.0% YoY, respectively.
  • Other income declined by 91.6% YoY during the quarter.
  • Net profit for the quarter declined by 6.2% YoY. Net profit margins during the quarter declined from 3.2% in 4QFY18 to 2.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 23.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 22.5% QoQ during the same period.
  • The company's operating profit declined by 31.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.6% in 4QFY19 as against 9.6% in 3QFY18.
  • Net profit for the quarter declined by 50.8% QoQ, while net profit margins declined from 4.5% in 3QFY18 to 2.9% in 4QFY19.

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 331.2 to Rs 261.9, registering a Loss of Rs 69.3 or around 20.9%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,316.5 (up 2.1%). Over the last one year it has moved up from 18,484.5 to 19,316.5, a gain of 832 points (up 4.5%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 261.9, the price to earnings (P/E) ratio of GE T&D INDIA stands at 31.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.6 times.

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