JSW ENERGY Announces Quarterly Results (2QFY19); Net Profit Down 4.2%

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JSW ENERGY Announces Quarterly Results (2QFY19); Net Profit Down 4.2%
Mon, 5 Nov

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

JSW ENERGY Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m20,49023,60624,3083.0%18.6%
Other incomeRs m1,7056731,370103.5%-19.7%
TurnoverRs m22,19624,27925,6775.8%15.7%
ExpensesRs m11,66715,84315,694-0.9%34.5%
Gross profitRs m8,8247,7628,61311.0%-2.4%
DepreciationRs m2,4492,8992,9331.2%19.8%
InterestRs m3,9103,1303,083-1.5%-21.1%
Profit before taxRs m4,1702,4073,96764.8%-4.9%
TaxRs m1,2022361,125376.9%-6.5%
Profit after taxRs m2,9682,1712,84330.9%-4.2%
Gross profit margin%43.132.935.4
Effective tax rate%28.89.828.3
Net profit margin%13.48.911.1
* 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 18.6% on a year-on-year (YoY) basis. The expenses were up by 34.5% YoY during the same period.
  • The company's operating profit declined by 2.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 35.4% in 2QFY19 as against 43.1% in 2QFY18.
  • Depreciation charges increased by 19.8% and finance costs declined by 21.1% YoY, respectively.
  • Other income declined by 19.7% YoY during the quarter.
  • Net profit for the quarter declined by 4.2% YoY. Net profit margins during the quarter declined from 13.4% in 2QFY18 to 11.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.9% QoQ during the same period.
  • The company's operating profit increased by 11.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 35.4% in 2QFY19 as against 32.9% in 1QFY18.
  • Net profit for the quarter increased by 30.9% QoQ, while net profit margins increased from 8.9% in 1QFY18 to 11.1% in 2QFY19.

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

JSW ENERGY Share Price Performance

Over the last one year, JSW ENERGY share price has moved up from Rs 81.6 to Rs 68.0, registering a Loss of Rs 13.6 or around 16.7%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,957.5 (down 1.6%). Over the last one year it has moved down from 2,347.1 to 1,957.5, a gain of 390 points (down 16.6%).

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 68.0, the price to earnings (P/E) ratio of JSW ENERGY stands at 115.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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