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JTEKT INDIA Announces Quarterly Results (3QFY19); Net Profit Up 1.3%

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JTEKT INDIA Announces Quarterly Results (3QFY19); Net Profit Up 1.3%
Mon, 28 Jan

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

JTEKT INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,9283,3852,975-12.1%1.6%
Other incomeRs m113611-69.7%1.5%
TurnoverRs m2,9393,4212,986-12.7%1.6%
ExpensesRs m2,6153,0322,704-10.8%3.4%
Gross profitRs m313353271-23.0%-13.4%
DepreciationRs m181162156-3.7%-13.9%
InterestRs m533735-5.7%-34.4%
Profit before taxRs m9119092-51.6%1.5%
TaxRs m326433-48.7%1.9%
Profit after taxRs m5812659-53.1%1.3%
Gross profit margin%10.710.49.1
Effective tax rate%35.733.835.8
Net profit margin%2.03.72.0
* 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 1.6% on a year-on-year (YoY) basis. The expenses were up by 3.4% YoY during the same period.
  • The company's operating profit declined by 13.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 3QFY19 as against 10.7% in 3QFY18.
  • Depreciation charges declined by 13.9% and finance costs declined by 34.4% YoY, respectively.
  • Other income increased by 1.5% YoY during the quarter.
  • Net profit for the quarter increased by 1.3% YoY. Net profit margins during the quarter declined from 2.0% in 3QFY18 to 2.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.8% QoQ during the same period.
  • The company's operating profit declined by 23.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 3QFY19 as against 10.4% in 2QFY18.
  • Net profit for the quarter declined by 53.1% QoQ, while net profit margins declined from 3.7% in 2QFY18 to 2.0% in 3QFY19.

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 up from Rs 109.1 to Rs 91.0, registering a Loss of Rs 18.1 or around 16.6%.

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 91.0, the price to earnings (P/E) ratio of JTEKT INDIA stands at 38.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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