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TATA ELXSI Announces Quarterly Results (3QFY19); Net Profit Up 5.1%

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TATA ELXSI Announces Quarterly Results (3QFY19); Net Profit Up 5.1%
Fri, 11 Jan

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

TATA ELXSI Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,4554,0284,0701.0%17.8%
Other incomeRs m68233-27-111.5%-139.5%
TurnoverRs m3,5234,2614,043-5.1%14.7%
ExpensesRs m2,5202,9613,0372.6%20.5%
Gross profitRs m9351,0671,033-3.2%10.5%
DepreciationRs m6361622.2%-1.1%
InterestRs m0000.0%0.0%
Profit before taxRs m9401,240944-23.8%0.4%
TaxRs m313418284-32.0%-9.1%
Profit after taxRs m628822660-19.7%5.1%
Gross profit margin%27.126.525.4
Effective tax rate%33.233.730.1
Net profit margin%17.819.316.3
* 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 17.8% on a year-on-year (YoY) basis. The expenses were up by 20.5% YoY during the same period.
  • The company's operating profit increased by 10.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.4% in 3QFY19 as against 27.1% in 3QFY18.
  • Depreciation charges declined by 1.1% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 139.5% YoY during the quarter.
  • Net profit for the quarter increased by 5.1% YoY. Net profit margins during the quarter declined from 17.8% in 3QFY18 to 16.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.6% QoQ during the same period.
  • The company's operating profit declined by 3.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.4% in 3QFY19 as against 26.5% in 2QFY18.
  • Net profit for the quarter declined by 19.7% QoQ, while net profit margins declined from 19.3% in 2QFY18 to 16.3% in 3QFY19.

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

TATA ELXSI Share Price Performance

Over the last one year, TATA ELXSI share price has moved up from Rs 1,037.6 to Rs 951.9, registering a Loss of Rs 85.7 or around 8.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,953.3 (down 1.1%). Over the last one year it has moved up from 11,696.3 to 13,953.3, a gain of 2,257 points (up 19.3%).

Overall, the S&P BSE SENSEX is up 5.0% over the year.

Current Valuations

At the current price of Rs 951.9, the price to earnings (P/E) ratio of TATA ELXSI stands at 20.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.1 times.

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