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ASHOK LEYLAND Announces Quarterly Results (3QFY19); Net Profit Down 15.3%

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ASHOK LEYLAND Announces Quarterly Results (3QFY19); Net Profit Down 15.3%
Mon, 18 Feb

ASHOK LEYLAND has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

ASHOK LEYLAND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m71,13276,08063,252-16.9%-11.1%
Other incomeRs m380281208-26.1%-45.2%
TurnoverRs m71,51176,36163,460-16.9%-11.3%
ExpensesRs m63,24768,02056,756-16.6%-10.3%
Gross profitRs m7,8827,9006,426-18.7%-18.5%
DepreciationRs m1,3501,4021,60714.6%19.0%
InterestRs m33517419210.3%-42.8%
Profit before taxRs m6,5766,6064,836-26.8%-26.5%
TaxRs m2,0792,0101,027-48.9%-50.6%
Profit after taxRs m4,4974,5963,808-17.1%-15.3%
Gross profit margin%11.110.410.2
Effective tax rate%31.630.421.2
Net profit margin%6.36.06.0
* 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 11.1% on a year-on-year (YoY) basis. The expenses were down by 10.3% YoY during the same period.
  • The company's operating profit declined by 18.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 3QFY19 as against 11.1% in 3QFY18.
  • Depreciation charges increased by 19.0% and finance costs declined by 42.8% YoY, respectively.
  • Other income declined by 45.2% YoY during the quarter.
  • Net profit for the quarter declined by 15.3% YoY. Net profit margins during the quarter declined from 6.3% in 3QFY18 to 6.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 16.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.6% QoQ during the same period.
  • The company's operating profit declined by 18.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 3QFY19 as against 10.4% in 2QFY18.
  • Net profit for the quarter declined by 17.1% QoQ, while net profit margins declined from 6.0% in 2QFY18 to 6.0% in 3QFY19.

To see how ASHOK LEYLAND has performed over the last eight quarters, please visit here.

ASHOK LEYLAND Share Price Performance

Over the last one year, ASHOK LEYLAND share price has moved up from Rs 134.0 to Rs 79.4, registering a Loss of Rs 54.7 or around 40.8%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,078.7 (down 1.0%). Over the last one year it has moved down from 24,773.4 to 18,078.7, a gain of 6,695 points (down 27.0%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 79.4, the price to earnings (P/E) ratio of ASHOK LEYLAND stands at 12.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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Related Views on News

ASHOK LEYLAND Announces Quarterly Results (2QFY19); Net Profit Up 36.4% (Quarterly Result Update)

Nov 14, 2018 | Updated on Nov 14, 2018

For the quarter ended September 2018, ASHOK LEYLAND has posted a net profit of Rs 5 bn (up 36.4% YoY). Sales on the other hand came in at Rs 76 bn (up 25.8% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

ASHOK LEYLAND 2017-18 Annual Report Analysis (Annual Result Update)

Aug 21, 2018 | Updated on Aug 21, 2018

Here's an analysis of the annual report of ASHOK LEYLAND for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of ASHOK LEYLAND. Also includes updates on the valuation of ASHOK LEYLAND.

ASHOK LEYLAND Announces Quarterly Results (4QFY18); Net Profit Up 79.0% (Quarterly Result Update)

May 21, 2018 | Updated on May 21, 2018

For the quarter ended March 2018, ASHOK LEYLAND has posted a net profit of Rs 7 bn (up 79.0% YoY). Sales on the other hand came in at Rs 88 bn (up 24.3% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

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