TATA INVEST. CORP. Announces Quarterly Results (2QFY19); Net Profit Down 21.1%

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TATA INVEST. CORP. Announces Quarterly Results (2QFY19); Net Profit Down 21.1%
Mon, 12 Nov

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

TATA INVEST. CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,4433091,006225.1%-30.3%
Other incomeRs m0112918314.3%0.0%
TurnoverRs m1,4433101,135266.0%-21.3%
ExpensesRs m133465622.4%-57.7%
Gross profitRs m1,310263821211.6%-37.3%
DepreciationRs m000-50.0%-37.5%
InterestRs m0000.0%0.0%
Profit before taxRs m1,309264950259.8%-27.5%
TaxRs m1533937-6.4%-76.1%
Profit after taxRs m1,157225913306.1%-21.1%
Gross profit margin%90.885.181.6
Effective tax rate%11.714.83.9
Net profit margin%80.272.580.4
* 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 30.3% on a year-on-year (YoY) basis. The expenses were down by 57.7% YoY during the same period.
  • The company's operating profit declined by 37.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 81.6% in 2QFY19 as against 90.8% in 2QFY18.
  • Depreciation charges declined by 37.5% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 0.0% YoY during the quarter.
  • Net profit for the quarter declined by 21.1% YoY. Net profit margins during the quarter increased from 80.2% in 2QFY18 to 80.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 225.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.4% QoQ during the same period.
  • The company's operating profit declined by 211.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 81.6% in 2QFY19 as against 85.1% in 1QFY18.
  • Net profit for the quarter increased by 306.1% QoQ, while net profit margins increased from 72.6% in 1QFY18 to 80.4% in 2QFY19.

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

TATA INVEST. CORP. Share Price Performance

Over the last one year, TATA INVEST. CORP. share price has moved up from Rs 864.3 to Rs 705.5, registering a Loss of Rs 158.9 or around 18.4%.

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

Current Valuations

At the current price of Rs 705.5, the price to earnings (P/E) ratio of TATA INVEST. CORP. stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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