TATA INVEST. CORP. Announces Quarterly Results (3QFY19); Net Profit Down 56.3%

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TATA INVEST. CORP. Announces Quarterly Results (3QFY19); Net Profit Down 56.3%
Wed, 13 Feb

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

TATA INVEST. CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m4701,006253-74.9%-46.3%
Other incomeRs m01290-99.8%0.0%
TurnoverRs m4701,135253-77.7%-46.3%
ExpensesRs m35566616.3%89.3%
Gross profitRs m436821187-77.2%-57.1%
DepreciationRs m000100.0%17.6%
InterestRs m0000.0%0.0%
Profit before taxRs m435950187-80.3%-57.1%
TaxRs m913736-0.5%-60.0%
Profit after taxRs m345913151-83.5%-56.3%
Gross profit margin%92.681.674.1
Effective tax rate%20.93.919.5
Net profit margin%73.380.459.6
* 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 fell 46.3% on a year-on-year (YoY) basis. The expenses were up by 89.3% YoY during the same period.
  • The company's operating profit declined by 57.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 74.1% in 3QFY19 as against 92.6% in 3QFY18.
  • Depreciation charges increased by 17.6% 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 56.3% YoY. Net profit margins during the quarter declined from 73.3% in 3QFY18 to 59.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 74.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.3% QoQ during the same period.
  • The company's operating profit declined by 77.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 74.1% in 3QFY19 as against 81.6% in 2QFY18.
  • Net profit for the quarter declined by 83.5% QoQ, while net profit margins declined from 80.4% in 2QFY18 to 59.6% in 3QFY19.

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 807.5 to Rs 837.4, registering a Gain of Rs 30.0 or around 3.7%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 837.4, the price to earnings (P/E) ratio of TATA INVEST. CORP. stands at 27.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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