HINDALCO Announces Quarterly Results (2QFY19); Net Profit Down 38.1%

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HINDALCO Announces Quarterly Results (2QFY19); Net Profit Down 38.1%
Mon, 12 Nov

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

HINDALCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m103,082105,932108,3302.3%5.1%
Other incomeRs m1,8721,0552,01390.9%7.5%
TurnoverRs m104,954106,987110,3443.1%5.1%
ExpensesRs m89,18492,67997,4235.1%9.2%
Gross profitRs m13,89913,25310,907-17.7%-21.5%
DepreciationRs m3,8044,0434,001-1.0%5.2%
InterestRs m4,8364,1084,2423.3%-12.3%
Profit before taxRs m7,1316,1574,677-24.0%-34.4%
TaxRs m2,1462,0221,591-21.3%-25.9%
Profit after taxRs m4,9854,1353,086-25.4%-38.1%
Gross profit margin%13.512.510.1
Effective tax rate%30.132.834.0
Net profit margin%4.73.92.8
* 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 5.1% on a year-on-year (YoY) basis. The expenses were up by 9.2% YoY during the same period.
  • The company's operating profit declined by 21.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 2QFY19 as against 13.5% in 2QFY18.
  • Depreciation charges increased by 5.2% and finance costs declined by 12.3% YoY, respectively.
  • Other income increased by 7.5% YoY during the quarter.
  • Net profit for the quarter declined by 38.1% YoY. Net profit margins during the quarter declined from 4.7% in 2QFY18 to 2.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.1% QoQ during the same period.
  • The company's operating profit declined by 17.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 2QFY19 as against 12.5% in 1QFY18.
  • Net profit for the quarter declined by 25.4% QoQ, while net profit margins declined from 3.9% in 1QFY18 to 2.8% in 2QFY19.

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

HINDALCO Share Price Performance

Over the last one year, HINDALCO share price has moved up from Rs 264.4 to Rs 233.9, registering a Loss of Rs 30.5 or around 11.5%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,789.1 (down 0.6%). Over the last one year it has moved down from 14,633.6 to 12,789.1, a gain of 1,845 points (down 12.6%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 233.9, the price to earnings (P/E) ratio of HINDALCO stands at 32.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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