VOLTAS Announces Quarterly Results (3QFY19); Net Profit Up 8.4%

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VOLTAS Announces Quarterly Results (3QFY19); Net Profit Up 8.4%
Tue, 19 Feb

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

VOLTAS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m13,74714,21414,9185.0%8.5%
Other incomeRs m9746154818.9%463.6%
TurnoverRs m13,84414,67415,4665.4%11.7%
ExpensesRs m12,56113,12813,7614.8%9.6%
Gross profitRs m1,2881,0851,039-4.3%-19.3%
DepreciationRs m6160623.5%1.5%
InterestRs m1964132107.0%600.0%
Profit before taxRs m1,3061,4231,393-2.1%6.7%
TaxRs m301331304-8.0%1.0%
Profit after taxRs m1,0041,0921,089-0.3%8.4%
Gross profit margin%9.47.67.0
Effective tax rate%23.123.221.8
Net profit margin%7.37.47.0
* 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 8.5% on a year-on-year (YoY) basis. The expenses were up by 9.6% YoY during the same period.
  • The company's operating profit declined by 19.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 3QFY19 as against 9.4% in 3QFY18.
  • Depreciation charges increased by 1.5% and finance costs increased by 600.0% YoY, respectively.
  • Other income increased by 463.6% YoY during the quarter.
  • Net profit for the quarter increased by 8.4% YoY. Net profit margins during the quarter declined from 7.3% in 3QFY18 to 7.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.8% QoQ during the same period.
  • The company's operating profit declined by 4.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 3QFY19 as against 7.6% in 2QFY18.
  • Net profit for the quarter declined by 0.3% QoQ, while net profit margins declined from 7.4% in 2QFY18 to 7.0% in 3QFY19.

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 575.6 to Rs 521.3, registering a Loss of Rs 54.3 or around 9.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,449.8 (up 0.8%). Over the last one year it has moved down from 18,900.9 to 16,449.8, a gain of 2,451 points (down 13.0%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 521.3, the price to earnings (P/E) ratio of VOLTAS stands at 28.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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