WHEELS INDIA Announces Quarterly Results (2QFY20); Net Profit Up 26.5%

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WHEELS INDIA Announces Quarterly Results (2QFY20); Net Profit Up 26.5%
Thu, 7 Nov

WHEELS INDIA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

WHEELS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m7,9587,1205,932-16.7%-25.5%
Other incomeRs m95142583.7%-73.9%
TurnoverRs m8,0537,1335,956-16.5%-26.0%
ExpensesRs m7,4256,6235,531-16.5%-25.5%
Gross profitRs m533497400-19.4%-24.9%
DepreciationRs m172181169-6.9%-1.7%
InterestRs m152165155-6.1%1.6%
Profit before taxRs m304164102-38.0%-66.5%
TaxRs m7748-185-486.2%-340.3%
Profit after taxRs m227116287146.7%26.5%
Gross profit margin%6.77.06.7
Effective tax rate%25.429.2-181.9
Net profit margin%2.81.64.8
* 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 25.5% on a year-on-year (YoY) basis. The expenses were down by 25.5% YoY during the same period.
  • The company's operating profit declined by 24.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 6.7% in 2QFY20.
  • Depreciation charges declined by 1.7% and finance costs increased by 1.6% YoY, respectively.
  • Other income declined by 73.9% YoY during the quarter.
  • Net profit for the quarter increased by 26.5% YoY. Net profit margins during the quarter increased from 2.8% in 2QFY19 to 4.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 16.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.5% QoQ during the same period.
  • The company's operating profit declined by 19.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.7% in 2QFY20 as against 7.0% in 1QFY19.
  • Net profit for the quarter increased by 146.7% QoQ, while net profit margins increased from 1.6% in 1QFY19 to 4.8% in 2QFY20.

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

Tomorrow at 11:59pm: We will take the Instant Income video down permanently

WHEELS INDIA Share Price Performance

Over the last one year,WHEELS INDIA share price has moved down from Rs 1,025.8 to Rs 625.0, registering a Loss of Rs 400.8 or around 39.1%.

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 625.0, the price to earnings (P/E) ratio of WHEELS INDIA stands at 10.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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WHEELS INDIA Announces Quarterly Results (3QFY20); Net Profit Down 39.8% (Quarterly Result Update)

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WHEELS INDIA 2018-19 Annual Report Analysis (Annual Result Update)

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WHEELS INDIA Announces Quarterly Results (4QFY18); Net Profit Up 5.8% (Quarterly Result Update)

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For the quarter ended March 2018, WHEELS INDIA has posted a net profit of Rs 195 m (up 5.8% YoY). Sales on the other hand came in at Rs 7 bn (up 25.7% YoY). Read on for a complete analysis of WHEELS INDIA's quarterly results.

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