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TATA MOTORS Announces Quarterly Results (3QFY19); Net Profit Down 3887.3%

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TATA MOTORS Announces Quarterly Results (3QFY19); Net Profit Down 3887.3%
Mon, 11 Feb

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

TATA MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m741,561721,121770,0096.8%3.8%
Other incomeRs m1,8166,1725,818-5.7%220.3%
TurnoverRs m743,377727,293775,8276.7%4.4%
ExpensesRs m654,858658,544707,8947.5%8.1%
Gross profitRs m84,12457,274-218,025-480.7%-359.2%
DepreciationRs m55,70859,41264,3938.4%15.6%
InterestRs m12,47412,26915,68527.8%25.7%
Profit before taxRs m17,758-8,234-292,284-1745.9%
TaxRs m10,6762,719-24,052-984.6%-325.3%
Profit after taxRs m7,082-10,953-268,232-3887.3%
Gross profit margin%11.37.9-28.3
Effective tax rate%60.1-33.08.2
Net profit margin%1.0-1.5-34.6
* 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 3.8% on a year-on-year (YoY) basis. The expenses were up by 8.1% YoY during the same period.
  • The company's operating profit declined by 359.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.3% in 3QFY19 as against 11.3% in 3QFY18.
  • Depreciation charges increased by 15.6% and finance costs increased by 25.7% YoY, respectively.
  • Other income increased by 220.3% YoY during the quarter.
  • Net profit for the quarter declined by 3887.3% YoY. Net profit margins during the quarter declined from 1.0% in 3QFY18 to -34.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.5% QoQ during the same period.
  • The company's operating profit declined by 480.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.3% in 3QFY19 as against 7.9% in 2QFY18.
  • Net profit for the quarter declined by 2348.8% QoQ, while net profit margins declined from -1.5% in 2QFY18 to -34.6% in 3QFY19.

To see how TATA MOTORS has performed over the last eight quarters, please visit here.

TATA MOTORS Share Price Performance

Over the last one year, TATA MOTORS share price has moved up from Rs 369.2 to Rs 147.2, registering a Loss of Rs 222.0 or around 60.1%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,592.2 (down 1.9%). Over the last one year it has moved down from 25,044.2 to 18,592.2, a gain of 6,452 points (down 25.8%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 147.2, the price to book value (P/BV) ratio of TATA MOTORS stands at 0.4 times.

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