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WELSPUN CORP Announces Quarterly Results (2QFY19); Net Profit Down 0.4%

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WELSPUN CORP Announces Quarterly Results (2QFY19); Net Profit Down 0.4%
Mon, 5 Nov

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

WELSPUN CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m20,06020,23423,54716.4%17.4%
Other incomeRs m37262185337.3%129.5%
TurnoverRs m20,43220,85524,40017.0%19.4%
ExpensesRs m18,20618,65822,01518.0%20.9%
Gross profitRs m1,8541,5751,209-23.2%-34.8%
DepreciationRs m980958954-0.4%-2.6%
InterestRs m53542450719.6%-5.3%
Profit before taxRs m711815601-26.2%-15.5%
TaxRs m15010643-59.5%-71.5%
Profit after taxRs m561709558-21.3%-0.4%
Gross profit margin%9.27.85.1
Effective tax rate%21.113.07.1
Net profit margin%2.73.42.3
* 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 17.4% on a year-on-year (YoY) basis. The expenses were up by 20.9% YoY during the same period.
  • The company's operating profit declined by 34.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.1% in 2QFY19 as against 9.2% in 2QFY18.
  • Depreciation charges declined by 2.6% and finance costs declined by 5.3% YoY, respectively.
  • Other income increased by 129.5% YoY during the quarter.
  • Net profit for the quarter declined by 0.4% YoY. Net profit margins during the quarter declined from 2.7% in 2QFY18 to 2.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.0% QoQ during the same period.
  • The company's operating profit declined by 23.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.1% in 2QFY19 as against 7.8% in 1QFY18.
  • Net profit for the quarter declined by 21.3% QoQ, while net profit margins declined from 3.4% in 1QFY18 to 2.3% in 2QFY19.

To see how WELSPUN CORP has performed over the last eight quarters, please visit here.

WELSPUN CORP Share Price Performance

Over the last one year, WELSPUN CORP share price has moved up from Rs 157.9 to Rs 140.4, registering a Loss of Rs 17.5 or around 11.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,063.1 (down 0.4%). Over the last one year it has moved down from 18,601.4 to 18,063.1, a gain of 538 points (down 2.9%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 140.4, the price to earnings (P/E) ratio of WELSPUN CORP stands at 15.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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