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TAJ GVK Announces Quarterly Results (2QFY19); Net Profit Down 44.3%

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TAJ GVK Announces Quarterly Results (2QFY19); Net Profit Down 44.3%
Mon, 12 Nov

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

TAJ GVK Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m628726714-1.7%13.7%
Other incomeRs m32376.5%0.0%
TurnoverRs m631728717-1.5%13.7%
ExpensesRs m4885996000.3%23.1%
Gross profitRs m140122113-6.7%-18.9%
DepreciationRs m434343-0.2%-1.6%
InterestRs m635754-4.2%-13.7%
Profit before taxRs m372420-17.9%-46.6%
TaxRs m14-157-50.4%
Profit after taxRs m233913-67.3%-44.3%
Gross profit margin%22.316.715.9
Effective tax rate%37.7-63.335.0
Net profit margin%3.65.41.8
* 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 13.7% on a year-on-year (YoY) basis. The expenses were up by 23.1% YoY during the same period.
  • The company's operating profit declined by 18.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 2QFY19 as against 22.3% in 2QFY18.
  • Depreciation charges declined by 1.6% and finance costs declined by 13.7% YoY, respectively.
  • Other income increased by 0.0% YoY during the quarter.
  • Net profit for the quarter declined by 44.3% YoY. Net profit margins during the quarter declined from 3.6% in 2QFY18 to 1.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit declined by 6.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 2QFY19 as against 16.7% in 1QFY18.
  • Net profit for the quarter declined by 67.3% QoQ, while net profit margins declined from 5.4% in 1QFY18 to 1.8% in 2QFY19.

To see how TAJ GVK has performed over the last eight quarters, please visit here.

TAJ GVK Share Price Performance

Over the last one year, TAJ GVK share price has moved up from Rs 164.2 to Rs 161.0, registering a Loss of Rs 3.3 or around 2.0%.

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 161.0, the price to earnings (P/E) ratio of TAJ GVK stands at 45.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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For the quarter ended March 2019, TAJ GVK has posted a net profit of Rs 101 m (up 39.0% YoY). Sales on the other hand came in at Rs 870 m (up 4.4% YoY). Read on for a complete analysis of TAJ GVK's quarterly results.

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