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VODAFONE IDEA Announces Quarterly Results (2QFY19); Net Profit Down 321.2%

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VODAFONE IDEA Announces Quarterly Results (2QFY19); Net Profit Down 321.2%
Thu, 15 Nov

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

VODAFONE IDEA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m74,65558,89276,63530.1%2.7%
Other incomeRs m4541,4142,15152.1%373.8%
TurnoverRs m75,10960,30678,78630.6%4.9%
ExpensesRs m59,63952,29872,02137.7%20.8%
Gross profitRs m15,01640,239-1,044-102.6%-107.0%
DepreciationRs m21,14320,92430,05943.7%42.2%
InterestRs m12,28315,25821,66242.0%76.4%
Profit before taxRs m-17,9565,471-50,614-1025.1%
TaxRs m-6,0473,504-453-112.9%
Profit after taxRs m-11,9091,967-50,161-2650.1%
Gross profit margin%20.168.3-1.4
Effective tax rate%33.764.00.9
Net profit margin%-15.93.3-63.7
* 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 grew 2.7% on a year-on-year (YoY) basis. The expenses were up by 20.8% YoY during the same period.
  • The company's operating profit declined by 107.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.4% in 2QFY19 as against 20.1% in 2QFY18.
  • Depreciation charges increased by 42.2% and finance costs increased by 76.4% YoY, respectively.
  • Other income increased by 373.8% YoY during the quarter.
  • Net profit for the quarter declined by 321.2% YoY. Net profit margins during the quarter declined from -15.9% in 2QFY18 to -63.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 30.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 37.7% QoQ during the same period.
  • The company's operating profit declined by 102.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.4% in 2QFY19 as against 68.3% in 1QFY18.
  • Net profit for the quarter declined by 2650.1% QoQ, while net profit margins declined from 3.3% in 1QFY18 to -63.7% in 2QFY19.

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

VODAFONE IDEA Share Price Performance

Over the last one year, VODAFONE IDEA share price has moved up from Rs 93.5 to Rs 37.3, registering a Loss of Rs 56.3 or around 60.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,055.4 (up 0.8%). Over the last one year it has moved up from 6,019.7 to 7,055.4, a gain of 1,036 points (up 17.2%).

Overall, the S&P BSE SENSEX is up 7.1% over the year.

Current Valuations

At the current price of Rs 37.3, the price to book value (P/BV) ratio of VODAFONE IDEA stands at 0.5 times.

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