VEDANTA LTD Announces Quarterly Results (3QFY19); Net Profit Down 21.2%

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VEDANTA LTD Announces Quarterly Results (3QFY19); Net Profit Down 21.2%
Mon, 4 Feb

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

VEDANTA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m243,610227,050236,6904.2%-2.8%
Other incomeRs m5,7305,92013,980136.1%144.0%
TurnoverRs m249,340232,970250,6707.6%0.5%
ExpensesRs m175,980174,970180,2403.0%2.4%
Gross profitRs m66,05055,28056,4502.1%-14.5%
DepreciationRs m15,49019,31022,07014.3%42.5%
InterestRs m13,06015,71013,580-13.6%4.0%
Profit before taxRs m43,23026,18034,78032.8%-19.5%
TaxRs m13,6407,18011,46059.6%-16.0%
Profit after taxRs m29,59019,00023,32022.7%-21.2%
Gross profit margin%27.124.323.8
Effective tax rate%31.627.432.9
Net profit margin%11.98.29.3
* 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 fell 2.8% on a year-on-year (YoY) basis. The expenses were up by 2.4% YoY during the same period.
  • The company's operating profit declined by 14.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.8% in 3QFY19 as against 27.1% in 3QFY18.
  • Depreciation charges increased by 42.5% and finance costs increased by 4.0% YoY, respectively.
  • Other income increased by 144.0% YoY during the quarter.
  • Net profit for the quarter declined by 21.2% YoY. Net profit margins during the quarter declined from 11.9% in 3QFY18 to 9.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.0% QoQ during the same period.
  • The company's operating profit declined by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.8% in 3QFY19 as against 24.3% in 2QFY18.
  • Net profit for the quarter increased by 22.7% QoQ, while net profit margins increased from 8.2% in 2QFY18 to 9.3% in 3QFY19.

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 333.9 to Rs 161.2, registering a Loss of Rs 172.7 or around 51.7%.

Overall, the S&P BSE SENSEX is up 1.5% over the year.

Current Valuations

At the current price of Rs 161.2, the price to earnings (P/E) ratio of VEDANTA LTD stands at 3.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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