JOHNSON CONTROLS - HITACHI AC INDIA Announces Quarterly Results (1QFY19); Net Profit Down 17.7%

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JOHNSON CONTROLS - HITACHI AC INDIA Announces Quarterly Results (1QFY19); Net Profit Down 17.7%
Tue, 31 Jul

JOHNSON CONTROLS - HITACHI AC INDIA has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

JOHNSON CONTROLS - HITACHI AC INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m9,3576,2777,94126.5%-15.1%
Other incomeRs m29958583.5%102.9%
TurnoverRs m9,3856,2867,99927.2%-14.8%
ExpensesRs m8,3025,5387,09828.2%-14.5%
Gross profitRs m1,05474084313.9%-20.1%
DepreciationRs m140131116-11.5%-17.0%
InterestRs m862-65.6%-70.9%
Profit before taxRs m93661178328.2%-16.3%
TaxRs m31920627533.8%-13.7%
Profit after taxRs m61640550725.3%-17.7%
Gross profit margin%11.311.810.6
Effective tax rate%34.133.735.2
Net profit margin%6.66.46.3
* 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 15.1% on a year-on-year (YoY) basis. The expenses were down by 14.5% YoY during the same period.
  • The company's operating profit declined by 20.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.6% in 1QFY19.
  • Depreciation charges and finance costs declined by 17.0% YoY and 70.9% YoY, respectively.
  • Other income increased by 102.9% YoY during the quarter.
  • Net profit for the quarter declined by 17.7% YoY. Net profit margins during the quarter declined from 6.6% in 1QFY18 to 6.3% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 28.2% QoQ during the same period.
  • The company's operating profit declined by 13.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.6% in 1QFY19 as against 11.8% in 4QFY18.
  • Net profit for the quarter increased by 25.3% QoQ, while net profit margins declined from 6.4% in 4QFY18 to 6.3% in 1QFY19.

To see how JOHNSON CONTROLS - HITACHI AC INDIA has performed over the last eight quarters, please visit here.

JOHNSON CONTROLS - HITACHI AC INDIA Share Price Performance

Over the last one year, JOHNSON CONTROLS - HITACHI AC INDIA share price has moved up from Rs 2,019.1 to Rs 2,156.7, registering a Gain of Rs 137.6 or around 6.8%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 20,774.6 (up 0.4%). Over the last one year it has moved up from 16,466.9 to 20,774.6, a gain of 4,308 points (up 26.2%).

Overall, the S&P BSE SENSEX is down 0.4% over the year.

Current Valuations

At the current price of Rs 2,156.7, the price to earnings (P/E) ratio of JOHNSON CONTROLS - HITACHI AC INDIA stands at 65.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.4 times.

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