VA TECH WABAG Announces Quarterly Results (3QFY19); Net Profit Down 65.6%

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VA TECH WABAG Announces Quarterly Results (3QFY19); Net Profit Down 65.6%
Mon, 11 Feb

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

VA TECH WABAG Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m8,6477,5206,619-12.0%-23.5%
Other incomeRs m85517.8%-36.9%
TurnoverRs m8,6557,5246,624-12.0%-23.5%
ExpensesRs m7,8706,8926,126-11.1%-22.2%
Gross profitRs m777640494-22.9%-36.5%
DepreciationRs m434241-1.4%-4.8%
InterestRs m1421771886.3%32.0%
Profit before taxRs m600426270-36.7%-55.0%
TaxRs m2481411495.3%-40.1%
Profit after taxRs m351285121-57.6%-65.6%
Gross profit margin%9.08.57.5
Effective tax rate%41.433.255.2
Net profit margin%4.13.81.8
* 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 23.5% on a year-on-year (YoY) basis. The expenses were down by 22.2% YoY during the same period.
  • The company's operating profit declined by 36.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 3QFY19 as against 9.0% in 3QFY18.
  • Depreciation charges declined by 4.8% and finance costs increased by 32.0% YoY, respectively.
  • Other income declined by 36.9% YoY during the quarter.
  • Net profit for the quarter declined by 65.6% YoY. Net profit margins during the quarter declined from 4.1% in 3QFY18 to 1.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.1% QoQ during the same period.
  • The company's operating profit declined by 22.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 3QFY19 as against 8.5% in 2QFY18.
  • Net profit for the quarter declined by 57.6% QoQ, while net profit margins declined from 3.8% in 2QFY18 to 1.8% in 3QFY19.

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 571.2 to Rs 275.5, registering a Loss of Rs 295.7 or around 51.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,426.8 (down 2.5%). Over the last one year it has moved down from 19,240.4 to 16,426.8, a gain of 2,814 points (down 14.6%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 275.5, the price to earnings (P/E) ratio of VA TECH WABAG stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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