SKF INDIA Announces Quarterly Results (3QFY19); Net Profit Up 2.7%

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SKF INDIA Announces Quarterly Results (3QFY19); Net Profit Up 2.7%
Mon, 11 Feb

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

SKF INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,0057,6607,6770.2%9.6%
Other incomeRs m20021433857.8%68.8%
TurnoverRs m7,2057,8758,0151.8%11.2%
ExpensesRs m6,0006,4546,4600.1%7.7%
Gross profitRs m1,2301,2061,2160.8%-1.1%
DepreciationRs m113117115-1.5%2.0%
InterestRs m160210.0%28.6%
Profit before taxRs m1,3021,3041,4198.8%9.0%
TaxRs m44046153516.0%21.4%
Profit after taxRs m8628438854.9%2.7%
Gross profit margin%17.615.715.8
Effective tax rate%33.835.437.7
Net profit margin%12.010.711.0
* 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 9.6% on a year-on-year (YoY) basis. The expenses were up by 7.7% YoY during the same period.
  • The company's operating profit declined by 1.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 3QFY19 as against 17.6% in 3QFY18.
  • Depreciation charges increased by 2.0% and finance costs increased by 28.6% YoY, respectively.
  • Other income increased by 68.8% YoY during the quarter.
  • Net profit for the quarter increased by 2.7% YoY. Net profit margins during the quarter declined from 12.0% in 3QFY18 to 11.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.1% QoQ during the same period.
  • The company's operating profit increased by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 3QFY19 as against 15.7% in 2QFY18.
  • Net profit for the quarter increased by 4.9% QoQ, while net profit margins increased from 10.7% in 2QFY18 to 11.0% in 3QFY19.

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 1,781.7 to Rs 1,927.5, registering a Gain of Rs 145.9 or around 8.2%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 1,927.5, the price to earnings (P/E) ratio of SKF INDIA stands at 31.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.5 times.

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