TITAN Announces Quarterly Results (1QFY20); Net Profit Up 11.0%

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TITAN Announces Quarterly Results (1QFY20); Net Profit Up 11.0%
Thu, 8 Aug

TITAN has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

TITAN Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m44,51048,88851,5115.4%15.7%
Other incomeRs m3615635711.4%58.0%
TurnoverRs m44,87249,45152,0825.3%16.1%
ExpensesRs m39,68244,40345,7773.1%15.4%
Gross profitRs m4,8294,4855,73427.9%18.8%
DepreciationRs m40740876086.0%86.4%
InterestRs m109125339171.0%210.8%
Profit before taxRs m4,6744,5155,20715.3%11.4%
TaxRs m1,3881,0321,56051.2%12.5%
Profit after taxRs m3,2863,4823,6474.7%11.0%
Gross profit margin%10.89.211.1
Effective tax rate%29.722.930.0
Net profit margin%7.37.07.0
* 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 15.7% on a year-on-year (YoY) basis. The expenses were up by 15.4% YoY during the same period.
  • The company's operating profit increased by 18.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.1% in 1QFY20.
  • Depreciation charges increased by 86.4% and finance costs increased by 210.8% YoY, respectively.
  • Other income increased by 58.0% YoY during the quarter.
  • Net profit for the quarter increased by 11.0% YoY. Net profit margins during the quarter declined from 7.3% in 1QFY19 to 7.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit increased by 27.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.1% in 1QFY20 as against 9.2% in 4QFY19.
  • Net profit for the quarter increased by 4.7% QoQ, while net profit margins declined from 7.0% in 4QFY19 to 7.0% in 1QFY20.

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

TITAN Share Price Performance

Over the last one year,TITAN share price has moved up from Rs 935.2 to Rs 1,016.5, registering a Gain of Rs 81.3 or around 8.7%.

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 1,016.5, the price to earnings (P/E) ratio of TITAN stands at 63.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.7 times.

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