ATUL AUTO Announces Quarterly Results (2QFY19); Net Profit Down 12.1%

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ATUL AUTO Announces Quarterly Results (2QFY19); Net Profit Down 12.1%
Mon, 12 Nov

ATUL AUTO has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ATUL AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,5991,3731,76528.5%10.4%
Other incomeRs m52422-11.5%313.5%
TurnoverRs m1,6041,3971,78627.8%11.4%
ExpensesRs m1,3291,2251,53625.4%15.5%
Gross profitRs m26914822954.4%-14.9%
DepreciationRs m1313143.0%5.3%
InterestRs m124116.7%457.1%
Profit before taxRs m26115823347.9%-10.6%
TaxRs m91548454.0%-7.9%
Profit after taxRs m17010314944.7%-12.1%
Gross profit margin%16.810.813.0
Effective tax rate%34.934.536.0
Net profit margin%10.67.48.4
* 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 10.4% on a year-on-year (YoY) basis. The expenses were up by 15.5% YoY during the same period.
  • The company's operating profit declined by 14.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.0% in 2QFY19 as against 16.8% in 2QFY18.
  • Depreciation charges increased by 5.3% and finance costs increased by 457.1% YoY, respectively.
  • Other income increased by 313.5% YoY during the quarter.
  • Net profit for the quarter declined by 12.1% YoY. Net profit margins during the quarter declined from 10.6% in 2QFY18 to 8.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 28.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 25.4% QoQ during the same period.
  • The company's operating profit increased by 54.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.0% in 2QFY19 as against 10.8% in 1QFY18.
  • Net profit for the quarter increased by 44.7% QoQ, while net profit margins increased from 7.4% in 1QFY18 to 8.4% in 2QFY19.

To see how ATUL AUTO has performed over the last eight quarters, please visit here.

ATUL AUTO Share Price Performance

Over the last one year, ATUL AUTO share price has moved up from Rs 427.3 to Rs 341.4, registering a Loss of Rs 85.9 or around 20.1%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 20,482.5 (down 1.7%). Over the last one year it has moved down from 24,931.8 to 20,482.5, a gain of 4,449 points (down 17.8%).

Overall, the S&P BSE SENSEX is up 5.1% over the year.

Current Valuations

At the current price of Rs 341.4, the price to earnings (P/E) ratio of ATUL AUTO stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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