JTEKT INDIA Announces Quarterly Results (1QFY20); Net Profit Down 52.7%

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JTEKT INDIA Announces Quarterly Results (1QFY20); Net Profit Down 52.7%
Mon, 19 Aug

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

JTEKT INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,1194,8103,953-17.8%26.7%
Other incomeRs m93285184.0%-45.3%
TurnoverRs m3,2124,8384,004-17.2%24.7%
ExpensesRs m2,8294,1793,654-12.6%29.2%
Gross profitRs m290631299-52.6%3.1%
DepreciationRs m161227223-1.8%38.6%
InterestRs m414133-20.5%-21.0%
Profit before taxRs m18139195-75.8%-47.7%
TaxRs m3414925-83.0%-26.4%
Profit after taxRs m14724169-71.3%-52.7%
Gross profit margin%9.313.17.6
Effective tax rate%19.038.226.8
Net profit margin%4.65.01.7
* 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 26.7% on a year-on-year (YoY) basis. The expenses were up by 29.2% YoY during the same period.
  • The company's operating profit increased by 3.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 1QFY20 as against 9.3% in 1QFY19.
  • Depreciation charges increased by 38.6% and finance costs declined by 21.0% YoY, respectively.
  • Other income declined by 45.3% YoY during the quarter.
  • Net profit for the quarter declined by 52.7% YoY. Net profit margins during the quarter declined from 4.6% in 1QFY19 to 1.7% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.6% QoQ during the same period.
  • The company's operating profit declined by 52.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 1QFY20 as against 13.1% in 4QFY19.
  • Net profit for the quarter declined by 71.3% QoQ, while net profit margins declined from 5.0% in 4QFY19 to 1.7% in 1QFY20.

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

JTEKT INDIA Share Price Performance

Over the last one year,JTEKT INDIA share price has moved down from Rs 141.5 to Rs 73.4, registering a Loss of Rs 68.1 or around 48.1%.

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 73.4, the price to earnings (P/E) ratio of JTEKT INDIA stands at 29.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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