SJVN Announces Quarterly Results (2QFY20); Net Profit Up 85.5%

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SJVN Announces Quarterly Results (2QFY20); Net Profit Up 85.5%
Tue, 12 Nov

SJVN has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

SJVN Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m7,5197,2459,46730.7%25.9%
Other incomeRs m793894824-7.8%3.9%
TurnoverRs m8,3128,13910,29126.4%23.8%
ExpensesRs m1,3641,4681,79722.4%31.8%
Gross profitRs m5,9995,7777,67032.8%27.9%
DepreciationRs m9659229240.2%-4.2%
InterestRs m1,409230671191.9%-52.4%
Profit before taxRs m4,4185,5186,90025.0%56.2%
TaxRs m1,3201,2911,153-10.7%-12.6%
Profit after taxRs m3,0984,2275,74635.9%85.5%
Gross profit margin%79.879.781.0
Effective tax rate%29.923.416.7
Net profit margin%37.351.955.8
* 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 grew 25.9% on a year-on-year (YoY) basis. The expenses were up by 31.8% YoY during the same period.
  • The company's operating profit increased by 27.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 81.0% in 2QFY20 as against 79.8% in 2QFY19.
  • Depreciation charges declined by 4.2% and finance costs declined by 52.4% YoY, respectively.
  • Other income increased by 3.9% YoY during the quarter.
  • Net profit for the quarter increased by 85.5% YoY. Net profit margins during the quarter increased from 37.3% in 2QFY19 to 55.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 30.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.4% QoQ during the same period.
  • The company's operating profit increased by 32.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 81.0% in 2QFY20 as against 79.7% in 1QFY19.
  • Net profit for the quarter increased by 35.9% QoQ, while net profit margins increased from 51.9% in 1QFY19 to 55.8% in 2QFY20.

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

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SJVN Share Price Performance

Over the last one year,SJVN share price has moved down from Rs 28.2 to Rs 24.6, registering a Loss of Rs 3.6 or around 12.8%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,958.4 (up 0.2%). Over the last one year it has moved up from 1,940.7 to 1,958.4, a gain of 18 points (up 0.9%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 24.6, the price to earnings (P/E) ratio of SJVN stands at 6.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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For the quarter ended June 2019, SJVN has posted a net profit of Rs 4 bn (up 44.0% YoY). Sales on the other hand came in at Rs 7 bn (up 18.0% YoY). Read on for a complete analysis of SJVN's quarterly results.

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