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VOLTAS Announces Quarterly Results (1QFY19); Net Profit Up 1.2%

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VOLTAS Announces Quarterly Results (1QFY19); Net Profit Up 1.2%
Mon, 13 Aug

VOLTAS has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

VOLTAS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m19,68120,48421,4814.9%9.1%
Other incomeRs m550438282-35.6%-48.7%
TurnoverRs m20,23120,92221,7634.0%7.6%
ExpensesRs m17,55817,95219,0496.1%8.5%
Gross profitRs m2,1232,5182,438-3.2%14.8%
DepreciationRs m616159-2.1%-2.9%
InterestRs m354327-37.1%-22.9%
Profit before taxRs m2,5762,8522,633-7.7%2.2%
TaxRs m727900762-15.3%4.8%
Profit after taxRs m1,8501,9521,872-4.1%1.2%
Gross profit margin%10.812.311.3
Effective tax rate%28.231.628.9
Net profit margin%9.19.38.6
* 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 9.1% on a year-on-year (YoY) basis. The expenses were up by 8.5% YoY during the same period.
  • The company's operating profit increased by 14.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.3% in 1QFY19.
  • Depreciation charges and finance costs declined by 2.9% YoY and 22.9% YoY, respectively.
  • Other income declined by 48.7% YoY during the quarter.
  • Net profit for the quarter increased by 1.2% YoY. Net profit margins during the quarter declined from 9.1% in 1QFY18 to 8.6% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.1% 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 11.3% in 1QFY19 as against 12.3% in 4QFY18.
  • Net profit for the quarter declined by 4.1% QoQ, while net profit margins declined from 9.3% in 4QFY18 to 8.6% in 1QFY19.

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

VOLTAS Share Price Performance

Over the last one year, VOLTAS share price has moved up from Rs 516.6 to Rs 621.2, registering a Gain of Rs 104.7 or around 20.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,022.6 (down 0.4%). Over the last one year it has moved up from 16,927.4 to 18,022.6, a gain of 1,095 points (up 6.5%).

Overall, the S&P BSE SENSEX is up 19.4% over the year.

Current Valuations

At the current price of Rs 621.2, the price to earnings (P/E) ratio of VOLTAS stands at 35.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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