TORRENT POWER LTD Announces Quarterly Results (4QFY19); Net Profit Down 88.8%

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TORRENT POWER LTD Announces Quarterly Results (4QFY19); Net Profit Down 88.8%
Fri, 17 May

TORRENT POWER LTD has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

TORRENT POWER LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m28,10432,53529,248-10.1%4.1%
Other incomeRs m988533399-25.3%-59.6%
TurnoverRs m29,09133,06829,647-10.3%1.9%
ExpensesRs m21,20125,17122,150-12.0%4.5%
Gross profitRs m6,9037,3647,098-3.6%2.8%
DepreciationRs m3,0333,0743,1301.8%3.2%
InterestRs m2,1052,2872,163-5.4%2.8%
Profit before taxRs m2,7522,5372,204-13.1%-19.9%
TaxRs m5401551,9561165.3%262.4%
Profit after taxRs m2,2132,382248-89.6%-88.8%
Gross profit margin%24.622.624.3
Effective tax rate%19.66.188.7
Net profit margin%7.67.20.8
* 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 4.1% on a year-on-year (YoY) basis. The expenses were up by 4.5% YoY during the same period.
  • The company's operating profit increased by 2.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.3% in 4QFY19 as against 24.6% in 4QFY18.
  • Depreciation charges increased by 3.2% and finance costs increased by 2.8% YoY, respectively.
  • Other income declined by 59.6% YoY during the quarter.
  • Net profit for the quarter declined by 88.8% YoY. Net profit margins during the quarter declined from 7.6% in 4QFY18 to 0.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.0% QoQ during the same period.
  • The company's operating profit increased by 3.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.3% in 4QFY19 as against 22.6% in 3QFY18.
  • Net profit for the quarter declined by 89.6% QoQ, while net profit margins declined from 7.2% in 3QFY18 to 0.8% in 4QFY19.

To see how TORRENT POWER LTD has performed over the last eight quarters, please visit here.

TORRENT POWER LTD Share Price Performance

Over the last one year, TORRENT POWER LTD share price has moved up from Rs 232.2 to Rs 235.9, registering a Gain of Rs 3.7 or around 1.6%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,857.0 (down 0.3%). Over the last one year it has moved down from 2,135.7 to 1,857.0, a gain of 279 points (down 13.1%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 235.9, the price to earnings (P/E) ratio of TORRENT POWER LTD stands at 12.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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