SKF INDIA Announces Quarterly Results (1QFY20); Net Profit Down 3.6%

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SKF INDIA Announces Quarterly Results (1QFY20); Net Profit Down 3.6%
Thu, 25 Jul

SKF INDIA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m7,5507,4847,7683.8%2.9%
Other incomeRs m225292172-41.2%-23.9%
TurnoverRs m7,7757,7767,9402.1%2.1%
ExpensesRs m6,3896,3756,5683.0%2.8%
Gross profitRs m1,1601,1101,2008.1%3.4%
DepreciationRs m11711613920.0%18.4%
InterestRs m17182644.5%54.7%
Profit before taxRs m1,2511,2681,207-4.8%-3.6%
TaxRs m443446427-4.1%-3.5%
Profit after taxRs m809822779-5.2%-3.6%
Gross profit margin%15.414.815.4
Effective tax rate%35.435.235.4
Net profit margin%10.410.69.8
* 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 2.9% on a year-on-year (YoY) basis. The expenses were up by 2.8% YoY during the same period.
  • The company's operating profit increased by 3.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 15.4% in 1QFY20.
  • Depreciation charges increased by 18.4% and finance costs increased by 54.7% YoY, respectively.
  • Other income declined by 23.9% YoY during the quarter.
  • Net profit for the quarter declined by 3.6% YoY. Net profit margins during the quarter declined from 10.4% in 1QFY19 to 9.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.0% QoQ during the same period.
  • The company's operating profit increased by 8.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.4% in 1QFY20 as against 14.8% in 4QFY19.
  • Net profit for the quarter declined by 5.2% QoQ, while net profit margins declined from 10.6% in 4QFY19 to 9.8% in 1QFY20.

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

SKF INDIA Share Price Performance

Over the last one year,SKF INDIA share price has moved up from Rs 1,625.0 to Rs 1,890.1, registering a Gain of Rs 265.1 or around 16.3%.

Overall, the S&P BSE SENSEX is up 3.3% over the year.

Current Valuations

At the current price of Rs 1,890.1, the price to earnings (P/E) ratio of SKF INDIA stands at 29.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.4 times.

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