TITAN Announces Quarterly Results (2QFY20); Net Profit Up 3.8%

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TITAN Announces Quarterly Results (2QFY20); Net Profit Up 3.8%
Thu, 7 Nov

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

TITAN Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m45,67251,51146,616-9.5%2.1%
Other incomeRs m279571318-44.4%13.8%
TurnoverRs m45,95152,08246,933-9.9%2.1%
ExpensesRs m40,98345,77741,393-9.6%1.0%
Gross profitRs m4,6895,7345,223-8.9%11.4%
DepreciationRs m4287608228.2%92.1%
InterestRs m13533944932.5%232.5%
Profit before taxRs m4,4055,2074,270-18.0%-3.1%
TaxRs m1,3771,5601,127-27.8%-18.2%
Profit after taxRs m3,0283,6473,143-13.8%3.8%
Gross profit margin%10.311.111.2
Effective tax rate%31.330.026.4
Net profit margin%6.67.06.7
* 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 2.1% on a year-on-year (YoY) basis. The expenses were up by 1.0% YoY during the same period.
  • The company's operating profit increased by 11.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.2% in 2QFY20 as against 10.3% in 2QFY19.
  • Depreciation charges increased by 92.1% and finance costs increased by 232.5% YoY, respectively.
  • Other income increased by 13.8% YoY during the quarter.
  • Net profit for the quarter increased by 3.8% YoY. Net profit margins during the quarter increased from 6.6% in 2QFY19 to 6.7% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.6% QoQ during the same period.
  • The company's operating profit declined by 8.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.2% in 2QFY20 as against 11.1% in 1QFY19.
  • Net profit for the quarter declined by 13.8% QoQ, while net profit margins declined from 7.0% in 1QFY19 to 6.7% in 2QFY20.

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

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TITAN Share Price Performance

Over the last one year,TITAN share price has moved up from Rs 850.1 to Rs 1,172.2, registering a Gain of Rs 322.1 or around 37.9%.

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 1,172.2, the price to earnings (P/E) ratio of TITAN stands at 72.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.1 times.

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