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TATA STEEL Announces Quarterly Results (2QFY19); Net Profit Up 215.1%

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TATA STEEL Announces Quarterly Results (2QFY19); Net Profit Up 215.1%
Thu, 15 Nov

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

TATA STEEL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m324,641378,328435,44115.1%34.1%
Other incomeRs m2,5323,4733,5442.1%40.0%
TurnoverRs m327,174381,801438,98515.0%34.2%
ExpensesRs m277,435313,651346,24610.4%24.8%
Gross profitRs m46,76061,24190,83348.3%94.3%
DepreciationRs m14,73318,05619,0795.7%29.5%
InterestRs m13,49916,70121,53128.9%59.5%
Profit before taxRs m21,06029,95653,76779.5%155.3%
TaxRs m11,38011,03723,264110.8%104.4%
Profit after taxRs m9,68118,91930,50461.2%215.1%
Gross profit margin%14.416.220.9
Effective tax rate%54.036.843.3
Net profit margin%3.05.06.9
* 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 34.1% on a year-on-year (YoY) basis. The expenses were up by 24.8% YoY during the same period.
  • The company's operating profit increased by 94.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.9% in 2QFY19 as against 14.4% in 2QFY18.
  • Depreciation charges increased by 29.5% and finance costs increased by 59.5% YoY, respectively.
  • Other income increased by 40.0% YoY during the quarter.
  • Net profit for the quarter increased by 215.1% YoY. Net profit margins during the quarter increased from 3.0% in 2QFY18 to 6.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 15.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.4% QoQ during the same period.
  • The company's operating profit increased by 48.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.9% in 2QFY19 as against 16.2% in 1QFY18.
  • Net profit for the quarter increased by 61.2% QoQ, while net profit margins increased from 5.0% in 1QFY18 to 6.9% in 2QFY19.

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

TATA STEEL Share Price Performance

Over the last one year, TATA STEEL share price has moved up from Rs 678.1 to Rs 588.0, registering a Loss of Rs 90.1 or around 13.3%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 12,696.6 (up 0.1%). Over the last one year it has moved down from 13,839.8 to 12,696.6, a gain of 1,143 points (down 8.3%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 588.0, the price to earnings (P/E) ratio of TATA STEEL stands at 2.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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