AUTO CORP. OF GOA Announces Quarterly Results (2QFY20); Net Profit Down 2.0%

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AUTO CORP. OF GOA Announces Quarterly Results (2QFY20); Net Profit Down 2.0%
Fri, 25 Oct

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

AUTO CORP. OF GOA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m1,0331,215826-32.0%-20.0%
Other incomeRs m2427270.9%9.8%
TurnoverRs m1,0571,242853-31.3%-19.3%
ExpensesRs m9661,125793-29.5%-17.9%
Gross profitRs m679033-63.3%-50.7%
DepreciationRs m131313-1.0%-2.8%
InterestRs m01120.0%106.9%
Profit before taxRs m7810346-55.1%-40.7%
TaxRs m2636-5-113.1%-118.4%
Profit after taxRs m526651-23.5%-2.0%
Gross profit margin%6.57.44.0
Effective tax rate%33.235.3-10.3
Net profit margin%4.95.36.0
* 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 20.0% on a year-on-year (YoY) basis. The expenses were down by 17.9% YoY during the same period.
  • The company's operating profit declined by 50.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.0% in 2QFY20 as against 6.5% in 2QFY19.
  • Depreciation charges declined by 2.8% and finance costs increased by 106.9% YoY, respectively.
  • Other income increased by 9.8% YoY during the quarter.
  • Net profit for the quarter declined by 2.0% YoY. Net profit margins during the quarter increased from 4.9% in 2QFY19 to 6.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 29.5% QoQ during the same period.
  • The company's operating profit declined by 63.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.0% in 2QFY20 as against 7.4% in 1QFY19.
  • Net profit for the quarter declined by 23.5% QoQ, while net profit margins increased from 5.3% in 1QFY19 to 6.0% in 2QFY20.

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

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AUTO CORP. OF GOA Share Price Performance

Over the last one year,AUTO CORP. OF GOA share price has moved down from Rs 683.2 to Rs 530.0, registering a Loss of Rs 153.2 or around 22.4%.

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 530.0, the price to earnings (P/E) ratio of AUTO CORP. OF GOA stands at 16.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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