TATA MOTORS Announces Quarterly Results (4QFY19); Net Profit Down 13.3%

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TATA MOTORS Announces Quarterly Results (4QFY19); Net Profit Down 13.3%
Wed, 22 May

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

TATA MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m912,791770,009864,22012.2%-5.3%
Other incomeRs m3,6445,8188,63648.4%137.0%
TurnoverRs m916,434775,827872,85612.5%-4.8%
ExpensesRs m800,289707,894779,72410.1%-2.6%
Gross profitRs m96,099-218,02573,423-23.6%
DepreciationRs m64,88464,39353,531-16.9%-17.5%
InterestRs m11,78315,68515,8801.2%34.8%
Profit before taxRs m23,077-292,28412,649-45.2%
TaxRs m9,771-24,0521,115-88.6%
Profit after taxRs m13,305-268,23211,535-13.3%
Gross profit margin%10.5-28.38.5
Effective tax rate%42.38.28.8
Net profit margin%1.5-34.61.3
* 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 fell 5.3% on a year-on-year (YoY) basis. The expenses were down by 2.6% YoY during the same period.
  • The company's operating profit declined by 23.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.5% in 4QFY19 as against 10.5% in 4QFY18.
  • Depreciation charges declined by 17.5% and finance costs increased by 34.8% YoY, respectively.
  • Other income increased by 137.0% YoY during the quarter.
  • Net profit for the quarter declined by 13.3% YoY. Net profit margins during the quarter declined from 1.5% in 4QFY18 to 1.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.1% QoQ during the same period.
  • The company's operating profit increased by 133.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.5% in 4QFY19 as against 28.3% in 3QFY18.
  • Net profit for the quarter increased by 104.3% QoQ, while net profit margins increased from -34.6% in 3QFY18 to 1.3% in 4QFY19.

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 307.8 to Rs 177.0, registering a Loss of Rs 130.8 or around 42.5%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,518.4 (up 0.2%). Over the last one year it has moved down from 24,295.1 to 18,518.4, a gain of 5,777 points (down 23.8%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 177.0, the price to book value (P/BV) ratio of TATA MOTORS stands at 0.5 times.

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