BHUSHAN STEEL Announces Quarterly Results (2QFY19); Net Profit Up 102.6%

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BHUSHAN STEEL Announces Quarterly Results (2QFY19); Net Profit Up 102.6%
Mon, 5 Nov

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

BHUSHAN STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m43,24646,23658,62026.8%35.5%
Other incomeRs m10226455101.8%4542.9%
TurnoverRs m43,25646,46259,07527.1%36.6%
ExpensesRs m37,52837,95346,85523.5%24.9%
Gross profitRs m5,08537,65712,712-66.2%150.0%
DepreciationRs m4,2593,6073,565-1.2%-16.3%
InterestRs m14,91213,2328,995-32.0%-39.7%
Profit before taxRs m-14,07621,043607-97.1%
TaxRs m9,403000.0%-100.0%
Profit after taxRs m-23,47921,043607-97.1%
Gross profit margin%11.881.421.7
Effective tax rate%-66.80.00.0
Net profit margin%-54.345.31.0
* 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 grew 35.5% on a year-on-year (YoY) basis. The expenses were up by 24.9% YoY during the same period.
  • The company's operating profit increased by 150.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.7% in 2QFY19 as against 11.8% in 2QFY18.
  • Depreciation charges declined by 16.3% and finance costs declined by 39.7% YoY, respectively.
  • Other income increased by 4542.9% YoY during the quarter.
  • Net profit for the quarter increased by 102.6% YoY. Net profit margins during the quarter increased from -54.3% in 2QFY18 to 1.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.5% QoQ during the same period.
  • The company's operating profit declined by 66.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.7% in 2QFY19 as against 81.4% in 1QFY18.
  • Net profit for the quarter declined by 97.1% QoQ, while net profit margins declined from 45.3% in 1QFY18 to 1.0% in 2QFY19.

To see how BHUSHAN STEEL has performed over the last eight quarters, please visit here.

BHUSHAN STEEL Share Price Performance

Over the last one year, BHUSHAN STEEL share price has moved up from Rs 67.3 to Rs 28.0, registering a Loss of Rs 39.3 or around 58.4%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 13,078.3 (up 0.0%). Over the last one year it has moved down from 14,943.8 to 13,078.3, a gain of 1,865 points (down 12.5%).

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

Current Valuations

At the current price of Rs 28.0, the price to book value (P/BV) ratio of BHUSHAN STEEL stands at 0.1 times.

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