BHARAT FORGE Announces Quarterly Results (3QFY19); Net Profit Up 35.8%

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BHARAT FORGE Announces Quarterly Results (3QFY19); Net Profit Up 35.8%
Mon, 18 Feb

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

BHARAT FORGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m13,90616,79216,9250.8%21.7%
Other incomeRs m21933847841.6%118.2%
TurnoverRs m14,12517,13017,4041.6%23.2%
ExpensesRs m9,74212,44811,667-6.3%19.8%
Gross profitRs m4,1634,3445,25821.1%26.3%
DepreciationRs m807914907-0.8%12.3%
InterestRs m143321136-57.8%-5.2%
Profit before taxRs m3,4323,4474,69536.2%36.8%
TaxRs m1,1511,1721,59636.2%38.7%
Profit after taxRs m2,2822,2753,09836.2%35.8%
Gross profit margin%29.925.931.1
Effective tax rate%33.534.034.0
Net profit margin%16.213.317.8
* 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 21.7% on a year-on-year (YoY) basis. The expenses were up by 19.8% YoY during the same period.
  • The company's operating profit increased by 26.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.1% in 3QFY19 as against 29.9% in 3QFY18.
  • Depreciation charges increased by 12.3% and finance costs declined by 5.2% YoY, respectively.
  • Other income increased by 118.2% YoY during the quarter.
  • Net profit for the quarter increased by 35.8% YoY. Net profit margins during the quarter increased from 16.2% in 3QFY18 to 17.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.3% QoQ during the same period.
  • The company's operating profit increased by 21.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.1% in 3QFY19 as against 25.9% in 2QFY18.
  • Net profit for the quarter increased by 36.2% QoQ, while net profit margins increased from 13.3% in 2QFY18 to 17.8% in 3QFY19.

To see how BHARAT FORGE has performed over the last eight quarters, please visit here.

BHARAT FORGE Share Price Performance

Over the last one year, BHARAT FORGE share price has moved up from Rs 742.9 to Rs 466.1, registering a Loss of Rs 276.9 or around 37.3%.

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 466.1, the price to earnings (P/E) ratio of BHARAT FORGE stands at 24.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.7 times.

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