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BLUE STAR Announces Quarterly Results (2QFY19); Net Profit Up 14.3%

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BLUE STAR Announces Quarterly Results (2QFY19); Net Profit Up 14.3%
Tue, 6 Nov

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

BLUE STAR Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,35715,08910,350-31.4%23.8%
Other incomeRs m452321-6.6%-52.5%
TurnoverRs m8,40215,11210,371-31.4%23.4%
ExpensesRs m7,89813,7129,741-29.0%23.3%
Gross profitRs m4631,500580-61.3%25.3%
DepreciationRs m1581611695.2%7.2%
InterestRs m59121117-3.6%98.8%
Profit before taxRs m2921,241316-74.5%8.2%
TaxRs m8432578-75.9%-6.9%
Profit after taxRs m208916238-74.1%14.3%
Gross profit margin%5.59.95.6
Effective tax rate%28.826.224.8
Net profit margin%2.56.12.3
* 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 23.8% on a year-on-year (YoY) basis. The expenses were up by 23.3% YoY during the same period.
  • The company's operating profit increased by 25.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 5.6% in 2QFY19.
  • Depreciation charges increased by 7.2% and finance costs increased by 98.8% YoY, respectively.
  • Other income declined by 52.5% YoY during the quarter.
  • Net profit for the quarter increased by 14.3% YoY. Net profit margins during the quarter declined from 2.5% in 2QFY18 to 2.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 31.4% 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 61.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.6% in 2QFY19 as against 9.9% in 1QFY18.
  • Net profit for the quarter declined by 74.1% QoQ, while net profit margins declined from 6.1% in 1QFY18 to 2.3% in 2QFY19.

To see how BLUE STAR has performed over the last eight quarters, please visit here.

BLUE STAR Share Price Performance

Over the last one year, BLUE STAR share price has moved up from Rs 675.1 to Rs 575.5, registering a Loss of Rs 99.7 or around 14.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,089.3 (up 0.2%). Over the last one year it has moved down from 18,531.6 to 18,089.3, a gain of 442 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 575.5, the price to earnings (P/E) ratio of BLUE STAR stands at 27.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.2 times.

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