TVS MOTORS Announces Quarterly Results (3QFY19); Net Profit Up 15.6%

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TVS MOTORS Announces Quarterly Results (3QFY19); Net Profit Up 15.6%
Thu, 24 Jan

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

TVS MOTORS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m36,85049,93546,640-6.6%26.6%
Other incomeRs m18277-12.2%-96.4%
TurnoverRs m37,03149,94246,646-6.6%26.0%
ExpensesRs m33,98245,65342,883-6.1%26.2%
Gross profitRs m2,8684,2823,757-12.2%31.0%
DepreciationRs m8241,0161,012-0.4%22.8%
InterestRs m122212167-21.1%37.1%
Profit before taxRs m2,1043,0622,585-15.6%22.9%
TaxRs m560949801-15.6%42.9%
Profit after taxRs m1,5442,1131,784-15.6%15.6%
Gross profit margin%7.88.68.1
Effective tax rate%26.631.031.0
Net profit margin%4.24.23.8
* 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 26.6% on a year-on-year (YoY) basis. The expenses were up by 26.2% YoY during the same period.
  • The company's operating profit increased by 31.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 8.1% in 3QFY19.
  • Depreciation charges increased by 22.8% and finance costs increased by 37.1% YoY, respectively.
  • Other income declined by 96.4% YoY during the quarter.
  • Net profit for the quarter increased by 15.6% YoY. Net profit margins during the quarter declined from 4.2% in 3QFY18 to 3.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.1% QoQ during the same period.
  • The company's operating profit declined by 12.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.1% in 3QFY19 as against 8.6% in 2QFY18.
  • Net profit for the quarter declined by 15.6% QoQ, while net profit margins declined from 4.2% in 2QFY18 to 3.8% in 3QFY19.

To see how TVS MOTORS has performed over the last eight quarters, please visit here.

TVS MOTORS Share Price Performance

Over the last one year, TVS MOTORS share price has moved up from Rs 707.4 to Rs 523.8, registering a Loss of Rs 183.6 or around 26.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 19,309.7 (down 0.4%). Over the last one year it has moved down from 25,975.3 to 19,309.7, a gain of 6,666 points (down 25.7%).

Overall, the S&P BSE SENSEX is up 0.2% over the year.

Current Valuations

At the current price of Rs 523.8, the price to earnings (P/E) ratio of TVS MOTORS stands at 35.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.3 times.

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