SAIL Announces Quarterly Results (3QFY19); Net Profit Up 1327.9%

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SAIL Announces Quarterly Results (3QFY19); Net Profit Up 1327.9%
Tue, 12 Feb

SAIL has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

SAIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m153,237167,180158,358-5.3%3.3%
Other incomeRs m1,1951,143747-34.7%-37.5%
TurnoverRs m154,431168,324159,105-5.5%3.0%
ExpensesRs m138,835143,530132,576-7.6%-4.5%
Gross profitRs m13,96923,30925,5499.6%82.9%
DepreciationRs m7,5968,2618,5473.5%12.5%
InterestRs m6,7457,7118,2517.0%22.3%
Profit before taxRs m8238,4809,49712.0%1054.4%
TaxRs m3912,9433,33413.3%752.6%
Profit after taxRs m4325,5376,16311.3%1327.9%
Gross profit margin%9.113.916.1
Effective tax rate%47.534.735.1
Net profit margin%0.33.33.9
* 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 3.3% on a year-on-year (YoY) basis. The expenses were down by 4.5% YoY during the same period.
  • The company's operating profit increased by 82.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 3QFY19 as against 9.1% in 3QFY18.
  • Depreciation charges increased by 12.5% and finance costs increased by 22.3% YoY, respectively.
  • Other income declined by 37.5% YoY during the quarter.
  • Net profit for the quarter increased by 1327.9% YoY. Net profit margins during the quarter increased from 0.3% in 3QFY18 to 3.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.6% QoQ during the same period.
  • The company's operating profit increased by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 3QFY19 as against 13.9% in 2QFY18.
  • Net profit for the quarter increased by 11.3% QoQ, while net profit margins increased from 3.3% in 2QFY18 to 3.9% in 3QFY19.

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

SAIL Share Price Performance

Over the last one year, SAIL share price has moved up from Rs 95.4 to Rs 46.8, registering a Loss of Rs 48.6 or around 51.0%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 10,394.1 (up 1.8%). Over the last one year it has moved down from 15,253.5 to 10,394.1, a gain of 4,859 points (down 31.9%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 46.8, the price to earnings (P/E) ratio of SAIL stands at 7.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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