VA TECH WABAG Announces Quarterly Results (2QFY19); Net Profit Down 22.9%

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VA TECH WABAG Announces Quarterly Results (2QFY19); Net Profit Down 22.9%
Wed, 14 Nov

VA TECH WABAG has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

VA TECH WABAG Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,8656,8797,5209.3%-15.2%
Other incomeRs m275-30.8%95.7%
TurnoverRs m8,8686,8857,5249.3%-15.2%
ExpensesRs m8,0916,4676,8926.6%-14.8%
Gross profitRs m77541264055.6%-17.4%
DepreciationRs m454342-2.1%-6.3%
InterestRs m14314817719.2%23.3%
Profit before taxRs m59022742687.8%-27.7%
TaxRs m22010114140.0%-35.9%
Profit after taxRs m369126285125.9%-22.9%
Gross profit margin%8.76.08.5
Effective tax rate%37.444.433.2
Net profit margin%4.21.83.8
* 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 fell 15.2% on a year-on-year (YoY) basis. The expenses were down by 14.8% YoY during the same period.
  • The company's operating profit declined by 17.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 8.5% in 2QFY19.
  • Depreciation charges declined by 6.3% and finance costs increased by 23.3% YoY, respectively.
  • Other income increased by 95.7% YoY during the quarter.
  • Net profit for the quarter declined by 22.9% YoY. Net profit margins during the quarter declined from 4.2% in 2QFY18 to 3.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.6% QoQ during the same period.
  • The company's operating profit increased by 55.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.5% in 2QFY19 as against 6.0% in 1QFY18.
  • Net profit for the quarter increased by 125.9% QoQ, while net profit margins increased from 1.8% in 1QFY18 to 3.8% in 2QFY19.

To see how VA TECH WABAG has performed over the last eight quarters, please visit here.

VA TECH WABAG Share Price Performance

Over the last one year, VA TECH WABAG share price has moved up from Rs 555.2 to Rs 292.3, registering a Loss of Rs 262.9 or around 47.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,330.4 (down 0.3%). Over the last one year it has moved up from 18,185.3 to 18,330.4, a gain of 145 points (up 0.8%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 292.3, the price to earnings (P/E) ratio of VA TECH WABAG stands at 11.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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