JSW STEEL Announces Quarterly Results (1QFY19); Net Profit Up 283.4%

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JSW STEEL Announces Quarterly Results (1QFY19); Net Profit Up 283.4%
Fri, 27 Jul

JSW STEEL has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

JSW STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m159,770208,170205,190-1.4%28.4%
Other incomeRs m41045058028.9%41.5%
TurnoverRs m160,180208,620205,770-1.4%28.5%
ExpensesRs m133,600155,270154,140-0.7%15.4%
Gross profitRs m26,17052,90051,260-3.1%95.9%
DepreciationRs m8,1908,6509,0504.6%10.5%
InterestRs m9,4508,8308,8700.5%-6.1%
Profit before taxRs m8,94035,87033,920-5.4%279.4%
TaxRs m2,8407,15010,53047.3%270.8%
Profit after taxRs m6,10028,72023,390-18.6%283.4%
Gross profit margin%16.425.425.0
Effective tax rate%31.819.931.0
Net profit margin%3.813.811.4
* 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 28.4% on a year-on-year (YoY) basis. The expenses were up by 15.4% YoY during the same period.
  • The company's operating profit increased by 95.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.0% in 1QFY19 as against 16.4% in 1QFY18.
  • Depreciation charges and finance costs increased by 10.5% YoY and 6.1% YoY, respectively.
  • Other income increased by 41.5% YoY during the quarter.
  • Net profit for the quarter increased by 283.4% YoY. Net profit margins during the quarter increased from 3.8% in 1QFY18 to 11.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.7% QoQ during the same period.
  • The company's operating profit declined by 3.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.0% in 1QFY19 as against 25.4% in 4QFY18.
  • Net profit for the quarter declined by 18.6% QoQ, while net profit margins declined from 13.8% in 4QFY18 to 11.4% in 1QFY19.

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

JSW STEEL Share Price Performance

Over the last one year, JSW STEEL share price has moved up from Rs 214.7 to Rs 321.5, registering a Gain of Rs 106.8 or around 49.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,507.8 (up 1.9%). Over the last one year it has moved up from 12,392.2 to 12,507.8, a gain of 116 points (up 0.9%).

Overall, the S&P BSE SENSEX is up 0.8% over the year.

Current Valuations

At the current price of Rs 321.5, the price to earnings (P/E) ratio of JSW STEEL stands at 10.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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