GUJARAT INDUSTRIES POWER Announces Quarterly Results (4QFY19); Net Profit Up 135.5%

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GUJARAT INDUSTRIES POWER Announces Quarterly Results (4QFY19); Net Profit Up 135.5%
Wed, 22 May

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

GUJARAT INDUSTRIES POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,7433,5253,6423.3%-2.7%
Other incomeRs m284451,0482249.9%268.7%
TurnoverRs m4,0283,5704,69031.4%16.4%
ExpensesRs m2,4942,2552,157-4.4%-13.5%
Gross profitRs m1,2501,2701,48516.9%18.8%
DepreciationRs m417424418-1.3%0.2%
InterestRs m199131122-7.1%-38.5%
Profit before taxRs m9187591,993162.4%117.0%
TaxRs m227183641890.6%60.6%
Profit after taxRs m6917411,628119.8%135.5%
Gross profit margin%33.436.040.8
Effective tax rate%24.72.418.3
Net profit margin%17.220.834.7
* 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 2.7% on a year-on-year (YoY) basis. The expenses were down by 13.5% YoY during the same period.
  • The company's operating profit increased by 18.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.8% in 4QFY19 as against 33.4% in 4QFY18.
  • Depreciation charges increased by 0.2% and finance costs declined by 38.5% YoY, respectively.
  • Other income increased by 268.7% YoY during the quarter.
  • Net profit for the quarter increased by 135.5% YoY. Net profit margins during the quarter increased from 17.2% in 4QFY18 to 34.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.4% QoQ during the same period.
  • The company's operating profit increased by 16.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.8% in 4QFY19 as against 36.0% in 3QFY18.
  • Net profit for the quarter increased by 119.8% QoQ, while net profit margins increased from 20.8% in 3QFY18 to 34.7% in 4QFY19.

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

GUJARAT INDUSTRIES POWER Share Price Performance

Over the last one year, GUJARAT INDUSTRIES POWER share price has moved up from Rs 97.3 to Rs 74.0, registering a Loss of Rs 23.3 or around 24.0%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,918.7 (up 0.1%). Over the last one year it has moved down from 2,086.7 to 1,918.7, a gain of 168 points (down 8.0%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 74.0, the price to earnings (P/E) ratio of GUJARAT INDUSTRIES POWER stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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For the quarter ended December 2019, GUJARAT INDUSTRIES POWER has posted a net profit of Rs 490 m (down 33.9% YoY). Sales on the other hand came in at Rs 4 bn (down 0.6% YoY). Read on for a complete analysis of GUJARAT INDUSTRIES POWER's quarterly results.

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