GUJARAT INDUSTRIES POWER Announces Quarterly Results (3QFY20); Net Profit Down 33.9%

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GUJARAT INDUSTRIES POWER Announces Quarterly Results (3QFY20); Net Profit Down 33.9%
Wed, 19 Feb

GUJARAT INDUSTRIES POWER has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

GUJARAT INDUSTRIES POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m3,5253,3243,5035.4%-0.6%
Other incomeRs m45758918.2%99.6%
TurnoverRs m3,5703,3993,5925.7%0.6%
ExpensesRs m2,2552,2002,3516.9%4.3%
Gross profitRs m1,2701,1231,1512.5%-9.3%
DepreciationRs m4244764800.9%13.3%
InterestRs m131130129-0.8%-1.7%
Profit before taxRs m7595926316.5%-16.9%
TaxRs m187514188.9%671.5%
Profit after taxRs m741518490-5.4%-33.9%
Gross profit margin%36.033.832.9
Effective tax rate%2.412.622.4
Net profit margin%20.815.213.6
* 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 0.6% on a year-on-year (YoY) basis. The expenses were up by 4.3% YoY during the same period.
  • The company's operating profit declined by 9.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.9% in 3QFY20 as against 36.0% in 3QFY19.
  • Depreciation charges increased by 13.3% and finance costs declined by 1.7% YoY, respectively.
  • Other income increased by 99.6% YoY during the quarter.
  • Net profit for the quarter declined by 33.9% YoY. Net profit margins during the quarter declined from 20.8% in 3QFY19 to 13.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.9% QoQ during the same period.
  • The company's operating profit increased by 2.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 32.9% in 3QFY20 as against 33.8% in 2QFY19.
  • Net profit for the quarter declined by 5.4% QoQ, while net profit margins declined from 15.2% in 2QFY19 to 13.6% in 3QFY20.

To see how GUJARAT INDUSTRIES POWER has performed over the last eight quarters,please visit here.

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GUJARAT INDUSTRIES POWER Share Price Performance

Over the last one year,GUJARAT INDUSTRIES POWER share price has moved up from Rs 68.7 to Rs 69.9, registering a Gain of Rs 1.2 or around 1.7%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,824.5 (up 0.9%). Over the last one year it has moved up from 1,760.4 to 1,824.5, a gain of 64 points (up 3.6%).

Overall, the S&P BSE SENSEX is up 16.1% over the year.

Current Valuations

At the current price of Rs 69.9, the price to earnings (P/E) ratio of GUJARAT INDUSTRIES POWER stands at 3.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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