PTC INDIA LTD Announces Quarterly Results (2QFY19); Net Profit Down 26.7%

Wed, 14 Nov

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

PTC INDIA LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-17*	3 Jun-18*	3 Sep-18*	QoQ Change	YoY Change
Net Sales	Rs m	52,893	33,871	45,350	33.9%	-14.3%
Other income	Rs m	1,250	317	651	105.2%	-47.9%
Turnover	Rs m	54,143	34,188	46,001	34.6%	-15.0%
Expenses	Rs m	51,957	32,925	44,032	33.7%	-15.3%
Gross profit	Rs m	936	945	1,319	39.6%	40.9%
Depreciation	Rs m	7	7	7	6.1%	1.4%
Interest	Rs m	534	311	558	79.4%	4.5%
Profit before tax	Rs m	1,645	945	1,405	48.7%	-14.6%
Tax	Rs m	340	330	448	35.7%	31.9%
Profit after tax	Rs m	1,305	614	957	55.7%	-26.7%
Gross profit margin	%	1.8	2.8	2.9
Effective tax rate	%	20.7	35.0	31.9
Net profit margin	%	2.4	1.8	2.1

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 15.3% YoY during the same period.
• The company's operating profit increased by 40.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.9% in 2QFY19 as against 1.8% in 2QFY18.
• Depreciation charges increased by 1.4% and finance costs increased by 4.5% YoY, respectively.
• Other income declined by 47.9% YoY during the quarter.
• Net profit for the quarter declined by 26.7% YoY. Net profit margins during the quarter declined from 2.4% in 2QFY18 to 2.1% in 2QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 33.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 33.7% QoQ during the same period.
• The company's operating profit increased by 39.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.9% in 2QFY19 as against 2.8% in 1QFY18.
• Net profit for the quarter increased by 55.7% QoQ, while net profit margins increased from 1.8% in 1QFY18 to 2.1% in 2QFY19.

To see how PTC INDIA LTD has performed over the last eight quarters, please visit here.

PTC INDIA LTD Share Price Performance

Over the last one year, PTC INDIA LTD share price has moved up from Rs 115.8 to Rs 79.7, registering a Loss of Rs 36.2 or around 31.2%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,967.9 (up 0.7%). Over the last one year it has moved down from 2,260.7 to 1,967.9, a gain of 293 points (down 13.0%).

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 79.7, the price to earnings (P/E) ratio of PTC INDIA LTD stands at 8.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.