VEDANTA LTD Announces Quarterly Results (2QFY19); Net Profit Down 36.4%

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VEDANTA LTD Announces Quarterly Results (2QFY19); Net Profit Down 36.4%
Tue, 6 Nov

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

VEDANTA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m215,900222,060227,0502.2%5.2%
Other incomeRs m8,7604,1805,92041.6%-32.4%
TurnoverRs m224,660226,240232,9703.0%3.7%
ExpensesRs m159,210159,220174,9709.9%9.9%
Gross profitRs m58,55062,84055,280-12.0%-5.6%
DepreciationRs m14,26017,96019,3107.5%35.4%
InterestRs m13,84015,46015,7101.6%13.5%
Profit before taxRs m39,21033,60026,180-22.1%-33.2%
TaxRs m9,35011,1207,180-35.4%-23.2%
Profit after taxRs m29,86022,48019,000-15.5%-36.4%
Gross profit margin%27.128.324.3
Effective tax rate%23.833.127.4
Net profit margin%13.39.98.2
* 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 5.2% on a year-on-year (YoY) basis. The expenses were up by 9.9% YoY during the same period.
  • The company's operating profit declined by 5.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.3% in 2QFY19 as against 27.1% in 2QFY18.
  • Depreciation charges increased by 35.4% and finance costs increased by 13.5% YoY, respectively.
  • Other income declined by 32.4% YoY during the quarter.
  • Net profit for the quarter declined by 36.4% YoY. Net profit margins during the quarter declined from 13.3% in 2QFY18 to 8.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.9% QoQ during the same period.
  • The company's operating profit declined by 12.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.3% in 2QFY19 as against 28.3% in 1QFY18.
  • Net profit for the quarter declined by 15.5% QoQ, while net profit margins declined from 9.9% in 1QFY18 to 8.2% in 2QFY19.

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

VEDANTA LTD Share Price Performance

Over the last one year, VEDANTA LTD share price has moved up from Rs 338.8 to Rs 209.0, registering a Loss of Rs 129.8 or around 38.3%.

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

Current Valuations

At the current price of Rs 209.0, the price to earnings (P/E) ratio of VEDANTA LTD stands at 4.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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