HINDALCO Announces Quarterly Results (3QFY20); Net Profit Down 22.0%

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HINDALCO Announces Quarterly Results (3QFY20); Net Profit Down 22.0%
Mon, 17 Feb

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

HINDALCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m119,37799,650102,3002.7%-14.3%
Other incomeRs m2,7271,9101,390-27.2%-49.0%
TurnoverRs m122,104101,560103,6902.1%-15.1%
ExpensesRs m110,09691,73092,1700.5%-16.3%
Gross profitRs m9,2827,61010,02031.7%8.0%
DepreciationRs m4,2914,2004,2801.9%-0.2%
InterestRs m4,3374,2804,060-5.1%-6.4%
Profit before taxRs m3,3811,0403,070195.2%-9.2%
TaxRs m9062601,140338.5%25.8%
Profit after taxRs m2,4757801,930147.4%-22.0%
Gross profit margin%7.87.69.8
Effective tax rate%26.825.037.1
Net profit margin%2.00.81.9
* 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 14.3% on a year-on-year (YoY) basis. The expenses were down by 16.3% YoY during the same period.
  • The company's operating profit increased by 8.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.8% in 3QFY20 as against 7.8% in 3QFY19.
  • Depreciation charges declined by 0.2% and finance costs declined by 6.4% YoY, respectively.
  • Other income declined by 49.0% YoY during the quarter.
  • Net profit for the quarter declined by 22.0% YoY. Net profit margins during the quarter declined from 2.0% in 3QFY19 to 1.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.5% QoQ during the same period.
  • The company's operating profit increased by 31.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.8% in 3QFY20 as against 7.6% in 2QFY19.
  • Net profit for the quarter increased by 147.4% QoQ, while net profit margins increased from 0.8% in 2QFY19 to 1.9% in 3QFY20.

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

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HINDALCO Share Price Performance

Over the last one year,HINDALCO share price has moved up from Rs 186.5 to Rs 193.2, registering a Gain of Rs 6.7 or around 3.6%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 9,634.5 (down 0.0%). Over the last one year it has moved down from 10,014.3 to 9,634.5, a gain of 380 points (down 3.8%).

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 193.2, the price to earnings (P/E) ratio of HINDALCO stands at 82.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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