SKF INDIA Announces Quarterly Results (2QFY19); Net Profit Up 14.0%

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SKF INDIA Announces Quarterly Results (2QFY19); Net Profit Up 14.0%
Fri, 9 Nov

SKF INDIA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m6,7987,5507,6601.5%12.7%
Other incomeRs m165225214-4.9%30.0%
TurnoverRs m6,9637,7757,8751.3%13.1%
ExpensesRs m5,6876,3896,4541.0%13.5%
Gross profitRs m1,1111,1601,2064.0%8.6%
DepreciationRs m114117117-0.5%2.0%
InterestRs m17170-100.0%-100.0%
Profit before taxRs m1,1451,2511,3044.2%13.9%
TaxRs m4054434614.1%13.8%
Profit after taxRs m7408098434.3%14.0%
Gross profit margin%16.315.415.7
Effective tax rate%35.435.435.4
Net profit margin%10.610.410.7
* 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 12.7% on a year-on-year (YoY) basis. The expenses were up by 13.5% YoY during the same period.
  • The company's operating profit increased by 8.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 15.7% in 2QFY19.
  • Depreciation charges increased by 2.0% and finance costs declined by 100.0% YoY, respectively.
  • Other income increased by 30.0% YoY during the quarter.
  • Net profit for the quarter increased by 14.0% YoY. Net profit margins during the quarter increased from 10.6% in 2QFY18 to 10.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.0% QoQ during the same period.
  • The company's operating profit increased by 4.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.7% in 2QFY19 as against 15.4% in 1QFY18.
  • Net profit for the quarter increased by 4.3% QoQ, while net profit margins increased from 10.4% in 1QFY18 to 10.7% in 2QFY19.

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 1,693.8 to Rs 1,800.0, registering a Gain of Rs 106.3 or around 6.3%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 1,800.0, the price to earnings (P/E) ratio of SKF INDIA stands at 29.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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