SJVN Announces Quarterly Results (1QFY19); Net Profit Down 35.0%

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SJVN Announces Quarterly Results (1QFY19); Net Profit Down 35.0%
Mon, 6 Aug

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

SJVN Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m7,0183,4486,14278.1%-12.5%
Other incomeRs m1,107916362-60.4%-67.3%
TurnoverRs m8,1244,3646,50549.0%-19.9%
ExpensesRs m1,2431,3862,878107.6%131.6%
Gross profitRs m5,9282,5174,43976.3%-25.1%
DepreciationRs m91684595312.7%4.0%
InterestRs m2424760-100.0%-100.0%
Profit before taxRs m5,8772,1123,84882.2%-34.5%
TaxRs m1,36378391216.5%-33.1%
Profit after taxRs m4,5141,3292,936120.9%-35.0%
Gross profit margin%84.573.072.3
Effective tax rate%23.237.123.7
Net profit margin%55.630.545.1
* 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 12.5% on a year-on-year (YoY) basis. The expenses were up by 131.6% YoY during the same period.
  • The company's operating profit declined by 25.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 72.3% in 1QFY19 as against 84.5% in 1QFY18.
  • Depreciation charges and finance costs increased by 4.0% YoY and 100.0% YoY, respectively.
  • Other income declined by 67.3% YoY during the quarter.
  • Net profit for the quarter declined by 35.0% YoY. Net profit margins during the quarter declined from 55.6% in 1QFY18 to 45.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 78.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 107.6% QoQ during the same period.
  • The company's operating profit declined by 76.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 72.3% in 1QFY19 as against 73.0% in 4QFY18.
  • Net profit for the quarter increased by 120.9% QoQ, while net profit margins increased from 30.5% in 4QFY18 to 45.1% in 1QFY19.

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

SJVN Share Price Performance

Over the last one year, SJVN share price has moved up from Rs 32.9 to Rs 27.1, registering a Loss of Rs 5.9 or around 17.8%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 2,001.1 (up 0.5%). Over the last one year it has moved down from 2,336.2 to 2,001.1, a gain of 335 points (down 14.3%).

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 27.1, the price to earnings (P/E) ratio of SJVN stands at 10.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.1 times.

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