TIMKEN INDIA Announces Quarterly Results (3QFY19); Net Profit Up 188.2%

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TIMKEN INDIA Announces Quarterly Results (3QFY19); Net Profit Up 188.2%
Tue, 12 Feb

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

TIMKEN INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,7864,1383,849-7.0%38.1%
Other incomeRs m263333-0.3%26.5%
TurnoverRs m2,8124,1713,881-7.0%38.0%
ExpensesRs m2,5793,4343,293-4.1%27.7%
Gross profitRs m207704556-21.1%168.1%
DepreciationRs m931982043.4%118.7%
InterestRs m364-36.8%9.1%
Profit before taxRs m136534380-28.7%179.1%
TaxRs m45188116-38.3%160.4%
Profit after taxRs m92346264-23.5%188.2%
Gross profit margin%7.417.014.4
Effective tax rate%32.735.230.5
Net profit margin%3.38.36.8
* 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 38.1% on a year-on-year (YoY) basis. The expenses were up by 27.7% YoY during the same period.
  • The company's operating profit increased by 168.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.4% in 3QFY19 as against 7.4% in 3QFY18.
  • Depreciation charges increased by 118.7% and finance costs increased by 9.1% YoY, respectively.
  • Other income increased by 26.5% YoY during the quarter.
  • Net profit for the quarter increased by 188.2% YoY. Net profit margins during the quarter increased from 3.3% in 3QFY18 to 6.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.1% QoQ during the same period.
  • The company's operating profit declined by 21.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.4% in 3QFY19 as against 17.0% in 2QFY18.
  • Net profit for the quarter declined by 23.5% QoQ, while net profit margins declined from 8.3% in 2QFY18 to 6.8% in 3QFY19.

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

TIMKEN INDIA Share Price Performance

Over the last one year, TIMKEN INDIA share price has moved up from Rs 817.9 to Rs 561.0, registering a Loss of Rs 256.9 or around 31.4%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 561.0, the price to earnings (P/E) ratio of TIMKEN INDIA stands at 32.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.4 times.

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