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- SKF INDIA Announces Quarterly Results (2QFY21); Net Profit Down 23.2%
SKF INDIA Announces Quarterly Results (2QFY21); Net Profit Down 23.2%
Fri, 30 Oct
SKF INDIA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:
SKF INDIA Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-19* | 3 Jun-20* | 3 Sep-20* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 7,472 | 3,012 | 7,032 | 133.4% | -5.9% |
| Other income | Rs m | 232 | 153 | 78 | -49.1% | -66.5% |
| Turnover | Rs m | 7,704 | 3,165 | 7,110 | 124.6% | -7.7% |
| Expenses | Rs m | 6,522 | 3,019 | 6,114 | 102.5% | -6.3% |
| Gross profit | Rs m | 950 | -6 | 918 | -3.4% | |
| Depreciation | Rs m | 141 | 145 | 145 | 0.3% | 2.7% |
| Interest | Rs m | 25 | 5 | 8 | 60.0% | -67.3% |
| Profit before tax | Rs m | 1,016 | -3 | 843 | -17.1% | |
| Tax | Rs m | 170 | 0 | 193 | 13.2% | |
| Profit after tax | Rs m | 846 | -3 | 650 | -23.2% | |
| Gross profit margin | % | 12.7 | -0.2 | 13.1 | ||
| Effective tax rate | % | 16.7 | 2.4 | 22.9 | ||
| Net profit margin | % | 11.0 | -0.1 | 9.1 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter fell 5.9% on a year-on-year (YoY) basis. The expenses were down by 6.3% YoY during the same period.
- The company's operating profit declined by 3.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.1% in 2QFY21.
- Depreciation charges increased by 2.7% and finance costs declined by 67.3% YoY, respectively.
- Other income declined by 66.5% YoY during the quarter.
- Net profit for the quarter declined by 23.2% YoY. Net profit margins during the quarter declined from 11.0% in 2QFY20 to 9.1% in 2QFY21.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 133.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 102.5% QoQ during the same period.
- The company's operating profit declined by 14674.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.1% in 2QFY21 as against 0.2% in 1QFY20.
- Net profit for the quarter increased by 20292.5% QoQ, while net profit margins increased from -0.1% in 1QFY20 to 9.1% in 2QFY21.
To see how SKF INDIA has performed over the last eight quarters,please visit here.
Know More: Which way are the markets & the mutual fund industry headed?
SKF INDIA Share Price Performance
Over the last one year, SKF INDIA share price has moved down from Rs 2,173.7 to Rs 1,489.4, registering a Loss of Rs 684.3 or around 31.5%.
Overall, the S&P BSE SENSEX is down 0.8% over the year.
Current Valuations
At the current price of Rs 1,489.4, the price to earnings (P/E) ratio of SKF INDIA stands at 41.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.
Related Views on News
SKF INDIA Announces Quarterly Results (4QFY20); Net Profit Down 8.3% (Quarterly Result Update)
May 8, 2020 | Updated on May 8, 2020For the quarter ended March 2020, SKF INDIA has posted a net profit of Rs 753 m (down 8.3% YoY). Sales on the other hand came in at Rs 6 bn (down 18.5% YoY). Read on for a complete analysis of SKF INDIA's quarterly results.
SKF INDIA Announces Quarterly Results (3QFY20); Net Profit Down 42.1% (Quarterly Result Update)
Feb 7, 2020 | Updated on Feb 7, 2020For the quarter ended December 2019, SKF INDIA has posted a net profit of Rs 512 m (down 42.1% YoY). Sales on the other hand came in at Rs 7 bn (down 7.9% YoY). Read on for a complete analysis of SKF INDIA's quarterly results.
SKF INDIA 2018-19 Annual Report Analysis (Annual Result Update)
Dec 16, 2019 | Updated on Dec 16, 2019Here's an analysis of the annual report of SKF INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of SKF INDIA. Also includes updates on the valuation of SKF INDIA.
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