AUTOMOTIVE AXLES Announces Quarterly Results (3QFY19); Net Profit Up 37.0%

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AUTOMOTIVE AXLES Announces Quarterly Results (3QFY19); Net Profit Up 37.0%
Thu, 14 Feb

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

AUTOMOTIVE AXLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4,0794,9844,858-2.5%19.1%
Other incomeRs m1597-17.4%-50.7%
TurnoverRs m4,0944,9924,865-2.6%18.8%
ExpensesRs m3,6384,3954,300-2.2%18.2%
Gross profitRs m441588558-5.2%26.5%
DepreciationRs m116123115-6.5%-1.5%
InterestRs m122-23.0%24.2%
Profit before taxRs m338473449-5.0%32.9%
TaxRs m115152144-5.7%25.0%
Profit after taxRs m223321305-4.7%37.0%
Gross profit margin%10.811.811.5
Effective tax rate%34.032.232.0
Net profit margin%5.46.46.3
* 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 19.1% on a year-on-year (YoY) basis. The expenses were up by 18.2% YoY during the same period.
  • The company's operating profit increased by 26.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.5% in 3QFY19.
  • Depreciation charges declined by 1.5% and finance costs increased by 24.2% YoY, respectively.
  • Other income declined by 50.7% YoY during the quarter.
  • Net profit for the quarter increased by 37.0% YoY. Net profit margins during the quarter increased from 5.4% in 3QFY18 to 6.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.2% QoQ during the same period.
  • The company's operating profit declined by 5.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 3QFY19 as against 11.8% in 2QFY18.
  • Net profit for the quarter declined by 4.7% QoQ, while net profit margins declined from 6.4% in 2QFY18 to 6.3% in 3QFY19.

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 1,740.5 to Rs 1,115.0, registering a Loss of Rs 625.5 or around 35.9%.

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

Current Valuations

At the current price of Rs 1,115.0, the price to earnings (P/E) ratio of AUTOMOTIVE AXLES stands at 14.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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