BHARAT ELECTRONICS Announces Quarterly Results (2QFY19); Net Profit Up 38.5%

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BHARAT ELECTRONICS Announces Quarterly Results (2QFY19); Net Profit Up 38.5%
Fri, 9 Nov

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

BHARAT ELECTRONICS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m24,76221,02133,81460.9%36.6%
Other incomeRs m5108914360.5%-72.1%
TurnoverRs m25,27221,10933,95760.9%34.4%
ExpensesRs m18,81217,91625,27041.0%34.3%
Gross profitRs m5,9503,10534,5581013.0%480.8%
DepreciationRs m59068926,0133676.0%4311.2%
InterestRs m0374327433.3%371600.0%
Profit before taxRs m5,8702,5027,944217.5%35.3%
TaxRs m1,7467052,230216.5%27.7%
Profit after taxRs m4,1241,7975,713217.9%38.5%
Gross profit margin%24.014.8102.2
Effective tax rate%29.728.228.1
Net profit margin%16.38.516.8
* 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 36.6% on a year-on-year (YoY) basis. The expenses were up by 34.3% YoY during the same period.
  • The company's operating profit increased by 480.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 102.2% in 2QFY19 as against 24.0% in 2QFY18.
  • Depreciation charges increased by 4311.2% and finance costs increased by 371600.0% YoY, respectively.
  • Other income declined by 72.1% YoY during the quarter.
  • Net profit for the quarter increased by 38.5% YoY. Net profit margins during the quarter increased from 16.3% in 2QFY18 to 16.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 60.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 41.0% QoQ during the same period.
  • The company's operating profit increased by 1013.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 102.2% in 2QFY19 as against 14.8% in 1QFY18.
  • Net profit for the quarter increased by 217.9% QoQ, while net profit margins increased from 8.5% in 1QFY18 to 16.8% in 2QFY19.

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

BHARAT ELECTRONICS Share Price Performance

Over the last one year, BHARAT ELECTRONICS share price has moved up from Rs 184.2 to Rs 98.8, registering a Loss of Rs 85.4 or around 46.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,231.5 (up 0.2%). Over the last one year it has moved down from 18,392.8 to 18,231.5, a gain of 161 points (down 0.9%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 98.8, the price to earnings (P/E) ratio of BHARAT ELECTRONICS stands at 13.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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Feb 17, 2020 10:03 AM

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