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TATA SPONGE Announces Quarterly Results (4QFY19); Net Profit Down 47.8%

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TATA SPONGE Announces Quarterly Results (4QFY19); Net Profit Down 47.8%
Mon, 22 Apr

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

TATA SPONGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m2,4352,6082,541-2.6%4.3%
Other incomeRs m117160150-6.3%28.2%
TurnoverRs m2,5522,7682,690-2.8%5.4%
ExpensesRs m1,8192,3052,298-0.3%26.3%
Gross profitRs m616304243-20.0%-60.6%
DepreciationRs m3029290.0%-2.0%
InterestRs m3213-85.8%-9.1%
Profit before taxRs m700413360-12.8%-48.5%
TaxRs m233145117-19.5%-49.9%
Profit after taxRs m467268244-9.1%-47.8%
Gross profit margin%25.311.69.6
Effective tax rate%33.335.132.4
Net profit margin%18.39.79.1
* 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 4.3% on a year-on-year (YoY) basis. The expenses were up by 26.3% YoY during the same period.
  • The company's operating profit declined by 60.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 4QFY19 as against 25.3% in 4QFY18.
  • Depreciation charges declined by 2.0% and finance costs declined by 9.1% YoY, respectively.
  • Other income increased by 28.2% YoY during the quarter.
  • Net profit for the quarter declined by 47.8% YoY. Net profit margins during the quarter declined from 18.3% in 4QFY18 to 9.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.3% QoQ during the same period.
  • The company's operating profit declined by 20.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 4QFY19 as against 11.6% in 3QFY18.
  • Net profit for the quarter declined by 9.1% QoQ, while net profit margins declined from 9.7% in 3QFY18 to 9.1% in 4QFY19.

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 up from Rs 1,128.4 to Rs 747.6, registering a Loss of Rs 380.8 or around 33.7%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 11,537.3 (down 0.6%). Over the last one year it has moved down from 14,732.0 to 11,537.3, a gain of 3,195 points (down 21.7%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 747.6, the price to earnings (P/E) ratio of TATA SPONGE stands at 9.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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TATA SPONGE Announces Quarterly Results (3QFY19); Net Profit Down 25.5% (Quarterly Result Update)

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For the quarter ended December 2018, TATA SPONGE has posted a net profit of Rs 268 m (down 25.5% YoY). Sales on the other hand came in at Rs 3 bn (up 21.6% YoY). Read on for a complete analysis of TATA SPONGE's quarterly results.

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