TATA POWER Announces Quarterly Results (3QFY19); Net Profit Down 30.7%

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TATA POWER Announces Quarterly Results (3QFY19); Net Profit Down 30.7%
Tue, 29 Jan

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

TATA POWER Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m69,49973,32677,0675.1%10.9%
Other incomeRs m9111,046148-85.8%-83.7%
TurnoverRs m70,41074,37277,2153.8%9.7%
ExpensesRs m559,53256,06761,0508.9%-89.1%
Gross profitRs m13,60720,60216,017-22.3%17.7%
DepreciationRs m5,9726,1066,027-1.3%0.9%
InterestRs m8,45510,34410,140-2.0%19.9%
Profit before taxRs m915,198-2-100.0%-102.1%
TaxRs m-1,668935-1,222-230.7%
Profit after taxRs m1,7594,2631,220-71.4%-30.7%
Gross profit margin%19.628.120.8
Effective tax rate%-1,833.118.064,305.3
Net profit margin%2.55.71.6
* 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 10.9% on a year-on-year (YoY) basis. The expenses were down by 89.1% YoY during the same period.
  • The company's operating profit increased by 17.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.8% in 3QFY19 as against 19.6% in 3QFY18.
  • Depreciation charges increased by 0.9% and finance costs increased by 19.9% YoY, respectively.
  • Other income declined by 83.7% YoY during the quarter.
  • Net profit for the quarter declined by 30.7% YoY. Net profit margins during the quarter declined from 2.5% in 3QFY18 to 1.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.9% QoQ during the same period.
  • The company's operating profit declined by 22.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.8% in 3QFY19 as against 28.1% in 2QFY18.
  • Net profit for the quarter declined by 71.4% QoQ, while net profit margins declined from 5.7% in 2QFY18 to 1.6% in 3QFY19.

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

TATA POWER Share Price Performance

Over the last one year, TATA POWER share price has moved up from Rs 90.0 to Rs 70.0, registering a Loss of Rs 20.0 or around 22.2%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,850.7 (down 0.4%). Over the last one year it has moved down from 2,330.1 to 1,850.7, a gain of 479 points (down 20.6%).

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 70.0, the price to earnings (P/E) ratio of TATA POWER stands at 5.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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