VOLTAS Announces Quarterly Results (4QFY19); Net Profit Down 17.5%

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VOLTAS Announces Quarterly Results (4QFY19); Net Profit Down 17.5%
Fri, 10 May

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

VOLTAS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m20,48414,91820,62838.3%0.7%
Other incomeRs m4385485724.4%30.6%
TurnoverRs m20,92215,46621,20037.1%1.3%
ExpensesRs m17,95213,76119,18539.4%6.9%
Gross profitRs m2,5181,0391,44338.9%-42.7%
DepreciationRs m616259-3.7%-2.3%
InterestRs m43132106-19.7%144.9%
Profit before taxRs m2,8521,3931,84932.8%-35.1%
TaxRs m900304239-21.6%-73.5%
Profit after taxRs m1,9521,0891,61148.0%-17.5%
Gross profit margin%12.37.07.0
Effective tax rate%31.621.812.9
Net profit margin%9.37.07.6
* 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 0.7% on a year-on-year (YoY) basis. The expenses were up by 6.9% YoY during the same period.
  • The company's operating profit declined by 42.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 4QFY19 as against 12.3% in 4QFY18.
  • Depreciation charges declined by 2.3% and finance costs increased by 144.9% YoY, respectively.
  • Other income increased by 30.6% YoY during the quarter.
  • Net profit for the quarter declined by 17.5% YoY. Net profit margins during the quarter declined from 9.3% in 4QFY18 to 7.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 38.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 39.4% QoQ during the same period.
  • The company's operating profit increased by 38.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.0% in 4QFY19 as against 7.0% in 3QFY18.
  • Net profit for the quarter increased by 48.0% QoQ, while net profit margins increased from 7.0% in 3QFY18 to 7.6% in 4QFY19.

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 601.4 to Rs 577.4, registering a Loss of Rs 24.0 or around 4.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,723.2 (down 0.1%). Over the last one year it has moved down from 19,028.4 to 17,723.2, a gain of 1,305 points (down 6.9%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 577.4, the price to earnings (P/E) ratio of VOLTAS stands at 33.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.9 times.

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