WABCO INDIA Announces Quarterly Results (3QFY19); Net Profit Down 6.3%

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WABCO INDIA Announces Quarterly Results (3QFY19); Net Profit Down 6.3%
Thu, 31 Jan

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

WABCO INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m6,4997,4286,999-5.8%7.7%
Other incomeRs m6425797-62.2%51.3%
TurnoverRs m6,5637,6857,096-7.7%8.1%
ExpensesRs m5,4966,1975,994-3.3%9.1%
Gross profitRs m1,0031,2311,005-18.4%0.2%
DepreciationRs m1531691774.7%16.1%
InterestRs m1000.0%-100.0%
Profit before taxRs m9131,319925-29.9%1.2%
TaxRs m275364327-10.2%18.7%
Profit after taxRs m638955598-37.4%-6.3%
Gross profit margin%15.416.614.4
Effective tax rate%30.127.635.3
Net profit margin%9.712.48.4
* 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 7.7% on a year-on-year (YoY) basis. The expenses were up by 9.1% YoY during the same period.
  • The company's operating profit increased by 0.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.4% in 3QFY19 as against 15.4% in 3QFY18.
  • Depreciation charges increased by 16.1% and finance costs declined by 100.0% YoY, respectively.
  • Other income increased by 51.3% YoY during the quarter.
  • Net profit for the quarter declined by 6.3% YoY. Net profit margins during the quarter declined from 9.7% in 3QFY18 to 8.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.3% QoQ during the same period.
  • The company's operating profit declined by 18.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.4% in 3QFY19 as against 16.6% in 2QFY18.
  • Net profit for the quarter declined by 37.4% QoQ, while net profit margins declined from 12.4% in 2QFY18 to 8.4% in 3QFY19.

To see how WABCO INDIA has performed over the last eight quarters, please visit here.

WABCO INDIA Share Price Performance

Over the last one year, WABCO INDIA share price has moved up from Rs 7,404.3 to Rs 6,256.2, registering a Loss of Rs 1,148.2 or around 15.5%.

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 6,256.2, the price to earnings (P/E) ratio of WABCO INDIA stands at 38.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.8 times.

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