TATA SPONGE Announces Quarterly Results (1QFY20); Net Profit Down 288.8%

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TATA SPONGE Announces Quarterly Results (1QFY20); Net Profit Down 288.8%
Wed, 31 Jul

TATA SPONGE has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

TATA SPONGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m2,6092,5417,046177.3%170.0%
Other incomeRs m119150412175.3%246.1%
TurnoverRs m2,7282,6907,458177.2%173.3%
ExpensesRs m2,0072,2986,805196.1%239.1%
Gross profitRs m60324351-79.0%-91.5%
DepreciationRs m29297962633.7%2681.5%
InterestRs m3367722460.0%21732.3%
Profit before taxRs m690360-1,009-380.2%-246.3%
TaxRs m234117-149-228.1%-163.8%
Profit after taxRs m456244-860-452.9%-288.8%
Gross profit margin%23.19.60.7
Effective tax rate%34.032.414.8
Net profit margin%16.79.1-11.5
* 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 170.0% on a year-on-year (YoY) basis. The expenses were up by 239.1% YoY during the same period.
  • The company's operating profit declined by 91.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.7% in 1QFY20 as against 23.1% in 1QFY19.
  • Depreciation charges increased by 2681.5% and finance costs increased by 21732.3% YoY, respectively.
  • Other income increased by 246.1% YoY during the quarter.
  • Net profit for the quarter declined by 288.8% YoY. Net profit margins during the quarter declined from 16.7% in 1QFY19 to -11.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 177.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 196.1% QoQ during the same period.
  • The company's operating profit declined by 79.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.7% in 1QFY20 as against 9.6% in 4QFY19.
  • Net profit for the quarter declined by 452.9% QoQ, while net profit margins declined from 9.1% in 4QFY19 to -11.5% in 1QFY20.

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

TATA SPONGE Share Price Performance

Over the last one year,TATA SPONGE share price has moved down from Rs 899.1 to Rs 457.1, registering a Loss of Rs 442.0 or around 49.2%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 9,585.8 (up 1.4%). Over the last one year it has moved down from 12,659.6 to 9,585.8, a gain of 3,074 points (down 24.3%).

Overall, the S&P BSE SENSEX is down 0.7% over the year.

Current Valuations

At the current price of Rs 457.1, the price to book value (P/BV) ratio of TATA SPONGE stands at 0.6 times.

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