VOLTAS Announces Quarterly Results (1QFY20); Net Profit Up 0.3%

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VOLTAS Announces Quarterly Results (1QFY20); Net Profit Up 0.3%
Thu, 8 Aug

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

VOLTAS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m21,48120,62826,54028.7%23.6%
Other incomeRs m282572433-24.3%53.4%
TurnoverRs m21,76321,20026,97327.2%23.9%
ExpensesRs m19,04919,18523,62823.2%24.0%
Gross profitRs m2,4381,4432,48272.0%1.8%
DepreciationRs m59597730.2%30.0%
InterestRs m2710644-58.8%60.4%
Profit before taxRs m2,6331,8492,79451.1%6.1%
TaxRs m762239917284.2%20.4%
Profit after taxRs m1,8721,6111,87716.5%0.3%
Gross profit margin%11.37.09.4
Effective tax rate%28.912.932.8
Net profit margin%8.67.67.0
* 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 23.6% on a year-on-year (YoY) basis. The expenses were up by 24.0% YoY during the same period.
  • The company's operating profit increased by 1.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.4% in 1QFY20 as against 11.3% in 1QFY19.
  • Depreciation charges increased by 30.0% and finance costs increased by 60.4% YoY, respectively.
  • Other income increased by 53.4% YoY during the quarter.
  • Net profit for the quarter increased by 0.3% YoY. Net profit margins during the quarter declined from 8.6% in 1QFY19 to 7.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 28.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.2% QoQ during the same period.
  • The company's operating profit increased by 72.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.4% in 1QFY20 as against 7.0% in 4QFY19.
  • Net profit for the quarter increased by 16.5% QoQ, while net profit margins declined from 7.6% in 4QFY19 to 7.0% in 1QFY20.

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 593.4 to Rs 599.5, registering a Gain of Rs 6.1 or around 1.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,091.9 (down 0.6%). Over the last one year it has moved down from 18,358.1 to 17,091.9, a gain of 1,266 points (down 6.9%).

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 599.5, the price to earnings (P/E) ratio of VOLTAS stands at 35.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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