AUTO CORP. OF GOA Announces Quarterly Results (1QFY20); Net Profit Up 2.7%

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AUTO CORP. OF GOA Announces Quarterly Results (1QFY20); Net Profit Up 2.7%
Mon, 29 Jul

AUTO CORP. OF GOA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

AUTO CORP. OF GOA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,2581,0741,21513.1%-3.4%
Other incomeRs m27242711.1%-2.9%
TurnoverRs m1,2851,0981,24213.1%-3.4%
ExpensesRs m1,1699861,12514.1%-3.8%
Gross profitRs m88469093.3%1.5%
DepreciationRs m1413133.2%-2.5%
InterestRs m011-2.0%22.0%
Profit before taxRs m1025710380.0%0.8%
TaxRs m37203676.9%-2.6%
Profit after taxRs m65376681.8%2.7%
Gross profit margin%7.04.37.4
Effective tax rate%36.535.935.3
Net profit margin%5.03.35.3
* 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 fell 3.4% on a year-on-year (YoY) basis. The expenses were down by 3.8% YoY during the same period.
  • The company's operating profit increased by 1.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.4% in 1QFY20.
  • Depreciation charges declined by 2.5% and finance costs increased by 22.0% YoY, respectively.
  • Other income declined by 2.9% YoY during the quarter.
  • Net profit for the quarter increased by 2.7% YoY. Net profit margins during the quarter increased from 5.0% in 1QFY19 to 5.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.1% QoQ during the same period.
  • The company's operating profit increased by 93.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.4% in 1QFY20 as against 4.3% in 4QFY19.
  • Net profit for the quarter increased by 81.8% QoQ, while net profit margins increased from 3.4% in 4QFY19 to 5.3% in 1QFY20.

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

AUTO CORP. OF GOA Share Price Performance

Over the last one year,AUTO CORP. OF GOA share price has moved down from Rs 871.8 to Rs 466.2, registering a Loss of Rs 405.6 or around 46.5%.

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 466.2, the price to earnings (P/E) ratio of AUTO CORP. OF GOA stands at 14.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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For the quarter ended December 2019, AUTO CORP. OF GOA has posted a net profit of Rs 14 m (down 125.4% YoY). Sales on the other hand came in at Rs 536 m (down 40.2% YoY). Read on for a complete analysis of AUTO CORP. OF GOA's quarterly results.

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