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AUTOMOTIVE AXLES Announces Quarterly Results (2QFY19); Net Profit Up 56.7%

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AUTOMOTIVE AXLES Announces Quarterly Results (2QFY19); Net Profit Up 56.7%
Mon, 12 Nov

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

AUTOMOTIVE AXLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,4964,7384,9845.2%42.5%
Other incomeRs m1699-4.4%-46.3%
TurnoverRs m3,5134,7474,9925.2%42.1%
ExpensesRs m3,1044,1794,3955.2%41.6%
Gross profitRs m3935595885.2%49.9%
DepreciationRs m98125123-1.9%25.1%
InterestRs m1229.9%73.9%
Profit before taxRs m3104424737.0%52.7%
TaxRs m1051521520.3%44.7%
Profit after taxRs m20429032110.5%56.7%
Gross profit margin%11.211.811.8
Effective tax rate%34.034.332.2
Net profit margin%5.86.16.4
* 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 42.5% on a year-on-year (YoY) basis. The expenses were up by 41.6% YoY during the same period.
  • The company's operating profit increased by 49.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 2QFY19 as against 11.2% in 2QFY18.
  • Depreciation charges increased by 25.1% and finance costs increased by 73.9% YoY, respectively.
  • Other income declined by 46.3% YoY during the quarter.
  • Net profit for the quarter increased by 56.7% YoY. Net profit margins during the quarter increased from 5.8% in 2QFY18 to 6.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.2% QoQ during the same period.
  • The company's operating profit increased by 5.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.8% in 2QFY19 as against 11.8% in 1QFY18.
  • Net profit for the quarter increased by 10.5% QoQ, while net profit margins increased from 6.1% in 1QFY18 to 6.4% in 2QFY19.

To see how AUTOMOTIVE AXLES has performed over the last eight quarters, please visit here.

AUTOMOTIVE AXLES Share Price Performance

Over the last one year, AUTOMOTIVE AXLES share price has moved up from Rs 954.7 to Rs 1,263.3, registering a Gain of Rs 308.6 or around 32.3%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 1,263.3, the price to earnings (P/E) ratio of AUTOMOTIVE AXLES stands at 17.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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