AUTOMOTIVE AXLES Announces Quarterly Results (2QFY20); Net Profit Down 80.5%

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AUTOMOTIVE AXLES Announces Quarterly Results (2QFY20); Net Profit Down 80.5%
Mon, 11 Nov

AUTOMOTIVE AXLES has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

AUTOMOTIVE AXLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,9844,1842,000-52.2%-59.9%
Other incomeRs m9142153.4%141.2%
TurnoverRs m4,9924,1982,021-51.9%-59.5%
ExpensesRs m4,3953,6971,831-50.5%-58.3%
Gross profitRs m588468169-63.8%-71.2%
DepreciationRs m1239491-2.4%-25.4%
InterestRs m2331.5%64.5%
Profit before taxRs m47338495-75.2%-79.8%
TaxRs m15213833-76.1%-78.3%
Profit after taxRs m32124662-74.6%-80.5%
Gross profit margin%11.811.28.5
Effective tax rate%32.236.034.6
Net profit margin%6.45.93.1
* 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 59.9% on a year-on-year (YoY) basis. The expenses were down by 58.3% YoY during the same period.
  • The company's operating profit declined by 71.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 2QFY20 as against 11.8% in 2QFY19.
  • Depreciation charges declined by 25.4% and finance costs increased by 64.5% YoY, respectively.
  • Other income increased by 141.2% YoY during the quarter.
  • Net profit for the quarter declined by 80.5% YoY. Net profit margins during the quarter declined from 6.4% in 2QFY19 to 3.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 52.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 50.5% QoQ during the same period.
  • The company's operating profit declined by 63.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 2QFY20 as against 11.2% in 1QFY19.
  • Net profit for the quarter declined by 74.6% QoQ, while net profit margins declined from 5.9% in 1QFY19 to 3.1% in 2QFY20.

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

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AUTOMOTIVE AXLES Share Price Performance

Over the last one year,AUTOMOTIVE AXLES share price has moved down from Rs 1,274.7 to Rs 831.8, registering a Loss of Rs 443.0 or around 34.7%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 831.8, the price to earnings (P/E) ratio of AUTOMOTIVE AXLES stands at 13.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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