STERLITE TECH. Announces Quarterly Results (2QFY19); Net Profit Up 79.8%

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STERLITE TECH. Announces Quarterly Results (2QFY19); Net Profit Up 79.8%
Fri, 9 Nov

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

STERLITE TECH. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,7938,76910,84323.7%39.1%
Other incomeRs m867360-17.5%-30.4%
TurnoverRs m7,8798,84110,90323.3%38.4%
ExpensesRs m6,0906,3208,11128.3%33.2%
Gross profitRs m1,7032,4492,73311.6%60.5%
DepreciationRs m4374484929.8%12.6%
InterestRs m2432312445.7%0.3%
Profit before taxRs m1,1091,8432,05711.6%85.5%
TaxRs m32754865218.8%99.1%
Profit after taxRs m7821,2951,4068.6%79.8%
Gross profit margin%21.827.925.2
Effective tax rate%29.529.831.7
Net profit margin%9.914.612.9
* 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 39.1% on a year-on-year (YoY) basis. The expenses were up by 33.2% YoY during the same period.
  • The company's operating profit increased by 60.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.2% in 2QFY19 as against 21.8% in 2QFY18.
  • Depreciation charges increased by 12.6% and finance costs increased by 0.3% YoY, respectively.
  • Other income declined by 30.4% YoY during the quarter.
  • Net profit for the quarter increased by 79.8% YoY. Net profit margins during the quarter increased from 9.9% in 2QFY18 to 12.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 23.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 28.3% QoQ during the same period.
  • The company's operating profit declined by 11.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.2% in 2QFY19 as against 27.9% in 1QFY18.
  • Net profit for the quarter increased by 8.6% QoQ, while net profit margins declined from 14.6% in 1QFY18 to 12.9% in 2QFY19.

To see how STERLITE TECH. has performed over the last eight quarters, please visit here.

STERLITE TECH. Share Price Performance

Over the last one year, STERLITE TECH. share price has moved up from Rs 289.7 to Rs 384.4, registering a Gain of Rs 94.7 or around 32.7%.

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

Current Valuations

At the current price of Rs 384.4, the price to earnings (P/E) ratio of STERLITE TECH. stands at 30.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.9 times.

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For the quarter ended September 2019, STERLITE TECH. has posted a net profit of Rs 2 bn (up 13.5% YoY). Sales on the other hand came in at Rs 14 bn (up 25.4% YoY). Read on for a complete analysis of STERLITE TECH.'s quarterly results.

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