ASHOK LEYLAND Announces Quarterly Results (3QFY20); Net Profit Down 92.7%

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ASHOK LEYLAND Announces Quarterly Results (3QFY20); Net Profit Down 92.7%
Mon, 17 Feb

ASHOK LEYLAND has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

ASHOK LEYLAND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m63,25239,29540,1572.2%-36.5%
Other incomeRs m208455223-50.9%7.4%
TurnoverRs m63,46039,75040,3801.6%-36.4%
ExpensesRs m56,75637,00937,9052.4%-33.2%
Gross profitRs m6,4261,6382,23036.2%-65.3%
DepreciationRs m1,6071,6001,575-1.6%-2.0%
InterestRs m19230133711.8%75.7%
Profit before taxRs m4,836191542183.5%-88.8%
TaxRs m1,027-198264-74.3%
Profit after taxRs m3,808389278-28.6%-92.7%
Gross profit margin%10.24.25.6
Effective tax rate%21.2-103.448.8
Net profit margin%6.01.00.7
* 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 36.5% on a year-on-year (YoY) basis. The expenses were down by 33.2% YoY during the same period.
  • The company's operating profit declined by 65.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.6% in 3QFY20 as against 10.2% in 3QFY19.
  • Depreciation charges declined by 2.0% and finance costs increased by 75.7% YoY, respectively.
  • Other income increased by 7.4% YoY during the quarter.
  • Net profit for the quarter declined by 92.7% YoY. Net profit margins during the quarter declined from 6.0% in 3QFY19 to 0.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.4% QoQ during the same period.
  • The company's operating profit increased by 36.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 5.6% in 3QFY20 as against 4.2% in 2QFY19.
  • Net profit for the quarter declined by 28.6% QoQ, while net profit margins declined from 1.0% in 2QFY19 to 0.7% in 3QFY20.

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

Know More: Is India's Economic Recovery Sustainable?

ASHOK LEYLAND Share Price Performance

Over the last one year,ASHOK LEYLAND share price has moved up from Rs 80.1 to Rs 81.6, registering a Gain of Rs 1.5 or around 1.9%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,521.3 (down 0.4%). Over the last one year it has moved down from 18,263.0 to 17,521.3, a gain of 742 points (down 4.1%).

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 81.6, the price to earnings (P/E) ratio of ASHOK LEYLAND stands at 24.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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Related Views on News

ASHOK LEYLAND Announces Quarterly Results (2QFY20); Net Profit Down 91.5% (Quarterly Result Update)

Nov 12, 2019 | Updated on Nov 12, 2019

For the quarter ended September 2019, ASHOK LEYLAND has posted a net profit of Rs 389 m (down 91.5% YoY). Sales on the other hand came in at Rs 39 bn (down 48.4% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

ASHOK LEYLAND 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

Here's an analysis of the annual report of ASHOK LEYLAND for 2018-19. 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 (1QFY20); Net Profit Down 37.8% (Quarterly Result Update)

Aug 6, 2019 | Updated on Aug 6, 2019

For the quarter ended June 2019, ASHOK LEYLAND has posted a net profit of Rs 2 bn (down 37.8% YoY). Sales on the other hand came in at Rs 57 bn (down 9.1% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

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