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RELIANCE POWER Announces Quarterly Results (2QFY19); Net Profit Down 7.8%

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RELIANCE POWER Announces Quarterly Results (2QFY19); Net Profit Down 7.8%
Mon, 5 Nov

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

RELIANCE POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m22,82222,84822,831-0.1%0.0%
Other incomeRs m97585895010.7%-2.6%
TurnoverRs m23,79723,70623,7810.3%-0.1%
ExpensesRs m10,92711,95911,664-2.5%6.7%
Gross profitRs m11,89510,88911,1672.6%-6.1%
DepreciationRs m1,8832,0101,993-0.9%5.9%
InterestRs m7,2156,7676,9572.8%-3.6%
Profit before taxRs m3,7722,9703,1666.6%-16.1%
TaxRs m1,0415976478.5%-37.8%
Profit after taxRs m2,7322,3732,5196.1%-7.8%
Gross profit margin%52.147.748.9
Effective tax rate%27.620.120.4
Net profit margin%11.510.010.6
* 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 0.0% on a year-on-year (YoY) basis. The expenses were up by 6.7% YoY during the same period.
  • The company's operating profit declined by 6.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.9% in 2QFY19 as against 52.1% in 2QFY18.
  • Depreciation charges increased by 5.9% and finance costs declined by 3.6% YoY, respectively.
  • Other income declined by 2.6% YoY during the quarter.
  • Net profit for the quarter declined by 7.8% YoY. Net profit margins during the quarter declined from 11.5% in 2QFY18 to 10.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.5% QoQ during the same period.
  • The company's operating profit increased by 2.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.9% in 2QFY19 as against 47.7% in 1QFY18.
  • Net profit for the quarter increased by 6.1% QoQ, while net profit margins increased from 10.0% in 1QFY18 to 10.6% in 2QFY19.

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

RELIANCE POWER Share Price Performance

Over the last one year, RELIANCE POWER share price has moved up from Rs 41.1 to Rs 31.0, registering a Loss of Rs 10.1 or around 24.5%.

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 31.0, the price to earnings (P/E) ratio of RELIANCE POWER stands at 10.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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