STERLITE TECH. Announces Quarterly Results (4QFY19); Net Profit Up 34.1%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

STERLITE TECH. Announces Quarterly Results (4QFY19); Net Profit Up 34.1%
Thu, 25 Apr

STERLITE TECH. has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

STERLITE TECH. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m8,46613,34917,91234.2%111.6%
Other incomeRs m17210413226.6%-23.1%
TurnoverRs m8,63813,45318,04434.1%108.9%
ExpensesRs m6,26310,41014,76141.8%135.7%
Gross profitRs m2,2032,9393,1517.2%43.0%
DepreciationRs m525512498-2.8%-5.1%
InterestRs m25327430711.9%21.3%
Profit before taxRs m1,5972,2572,4789.8%55.1%
TaxRs m3627608228.1%126.9%
Profit after taxRs m1,2351,4971,65610.6%34.1%
Gross profit margin%26.022.017.6
Effective tax rate%22.733.733.2
Net profit margin%14.311.19.2
* 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 111.6% on a year-on-year (YoY) basis. The expenses were up by 135.7% YoY during the same period.
  • The company's operating profit increased by 43.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.6% in 4QFY19 as against 26.0% in 4QFY18.
  • Depreciation charges declined by 5.1% and finance costs increased by 21.3% YoY, respectively.
  • Other income declined by 23.1% YoY during the quarter.
  • Net profit for the quarter increased by 34.1% YoY. Net profit margins during the quarter declined from 14.3% in 4QFY18 to 9.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 34.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 41.8% QoQ during the same period.
  • The company's operating profit declined by 7.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.6% in 4QFY19 as against 22.0% in 3QFY18.
  • Net profit for the quarter increased by 10.6% QoQ, while net profit margins declined from 11.1% in 3QFY18 to 9.2% in 4QFY19.

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 337.2 to Rs 191.1, registering a Loss of Rs 146.1 or around 43.3%.

Overall, the S&P BSE SENSEX is up 11.9% over the year.

Current Valuations

At the current price of Rs 191.1, the price to earnings (P/E) ratio of STERLITE TECH. stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.4 times.

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For the quarter ended June 2019, STERLITE TECH. has posted a net profit of Rs 1 bn (up 11.4% YoY). Sales on the other hand came in at Rs 14 bn (up 63.3% YoY). Read on for a complete analysis of STERLITE TECH.'s quarterly results.

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