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VEDANTA LTD Announces Quarterly Results (4QFY19); Net Profit Down 43.3%

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VEDANTA LTD Announces Quarterly Results (4QFY19); Net Profit Down 43.3%
Wed, 8 May

VEDANTA LTD has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

VEDANTA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m276,300236,690234,680-0.8%-15.1%
Other incomeRs m9,93013,98016,28016.5%63.9%
TurnoverRs m286,230250,670250,9600.1%-12.3%
ExpensesRs m197,930180,240173,330-3.8%-12.4%
Gross profitRs m107,06056,45061,3508.7%-42.7%
DepreciationRs m16,83022,07022,5802.3%34.2%
InterestRs m14,24013,58014,0103.2%-1.6%
Profit before taxRs m85,92034,78041,04018.0%-52.2%
TaxRs m29,17011,4608,860-22.7%-69.6%
Profit after taxRs m56,75023,32032,18038.0%-43.3%
Gross profit margin%38.723.826.1
Effective tax rate%34.032.921.6
Net profit margin%19.89.312.8
* 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 15.1% on a year-on-year (YoY) basis. The expenses were down by 12.4% YoY during the same period.
  • The company's operating profit declined by 42.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.1% in 4QFY19 as against 38.7% in 4QFY18.
  • Depreciation charges increased by 34.2% and finance costs declined by 1.6% YoY, respectively.
  • Other income increased by 63.9% YoY during the quarter.
  • Net profit for the quarter declined by 43.3% YoY. Net profit margins during the quarter declined from 19.8% in 4QFY18 to 12.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.8% QoQ during the same period.
  • The company's operating profit increased by 8.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.1% in 4QFY19 as against 23.8% in 3QFY18.
  • Net profit for the quarter increased by 38.0% QoQ, while net profit margins increased from 9.3% in 3QFY18 to 12.8% in 4QFY19.

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 283.0 to Rs 158.1, registering a Loss of Rs 124.9 or around 44.1%.

Overall, the S&P BSE SENSEX is up 7.6% over the year.

Current Valuations

At the current price of Rs 158.1, 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 0.7 times.

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