AUTO CORP. OF GOA Announces Quarterly Results (3QFY20); Net Profit Down 125.4%

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AUTO CORP. OF GOA Announces Quarterly Results (3QFY20); Net Profit Down 125.4%
Mon, 27 Jan

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

AUTO CORP. OF GOA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m897826536-35.1%-40.2%
Other incomeRs m2527285.2%14.6%
TurnoverRs m922853565-33.8%-38.7%
ExpensesRs m827793563-29.0%-31.9%
Gross profitRs m7033-27-181.8%-138.7%
DepreciationRs m131313-1.5%-1.3%
InterestRs m010-28.3%87.0%
Profit before taxRs m8146-12-126.5%-115.1%
TaxRs m25-52-92.3%
Profit after taxRs m5651-14-127.8%-125.4%
Gross profit margin%7.84.0-5.0
Effective tax rate%31.2-10.3-15.9
Net profit margin%6.06.0-2.5
* 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 40.2% on a year-on-year (YoY) basis. The expenses were down by 31.9% YoY during the same period.
  • The company's operating profit declined by 138.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 3QFY20 as against 7.8% in 3QFY19.
  • Depreciation charges declined by 1.3% and finance costs increased by 87.0% YoY, respectively.
  • Other income increased by 14.6% YoY during the quarter.
  • Net profit for the quarter declined by 125.4% YoY. Net profit margins during the quarter declined from 6.0% in 3QFY19 to -2.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 35.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 29.0% QoQ during the same period.
  • The company's operating profit declined by 181.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 3QFY20 as against 4.0% in 2QFY19.
  • Net profit for the quarter declined by 127.8% QoQ, while net profit margins declined from 6.0% in 2QFY19 to -2.5% in 3QFY20.

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 651.2 to Rs 551.9, registering a Loss of Rs 99.4 or around 15.3%.

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 551.9, the price to earnings (P/E) ratio of AUTO CORP. OF GOA stands at 25.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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