WELSPUN CORP Announces Quarterly Results (2QFY20); Net Profit Up 116.4%

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WELSPUN CORP Announces Quarterly Results (2QFY20); Net Profit Up 116.4%
Fri, 25 Oct

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

WELSPUN CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m23,54720,47122,63010.5%-3.9%
Other incomeRs m853418389-7.0%-54.5%
TurnoverRs m24,40020,88923,01810.2%-5.7%
ExpensesRs m22,01518,47319,7126.7%-10.5%
Gross profitRs m1,2091,9982,91746.0%141.3%
DepreciationRs m95454561011.9%-36.1%
InterestRs m507395341-13.7%-32.8%
Profit before taxRs m6011,4762,35559.5%291.7%
TaxRs m433841,147198.9%2573.7%
Profit after taxRs m5581,0931,20810.6%116.4%
Gross profit margin%5.19.812.9
Effective tax rate%7.126.048.7
Net profit margin%2.35.25.2
* 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 3.9% on a year-on-year (YoY) basis. The expenses were down by 10.5% YoY during the same period.
  • The company's operating profit increased by 141.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.9% in 2QFY20 as against 5.1% in 2QFY19.
  • Depreciation charges declined by 36.1% and finance costs declined by 32.8% YoY, respectively.
  • Other income declined by 54.5% YoY during the quarter.
  • Net profit for the quarter increased by 116.4% YoY. Net profit margins during the quarter increased from 2.3% in 2QFY19 to 5.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
  • The company's operating profit increased by 46.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.9% in 2QFY20 as against 9.8% in 1QFY19.
  • Net profit for the quarter increased by 10.6% QoQ, while net profit margins increased from 5.2% in 1QFY19 to 5.2% in 2QFY20.

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

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WELSPUN CORP Share Price Performance

Over the last one year,WELSPUN CORP share price has moved up from Rs 120.1 to Rs 143.0, registering a Gain of Rs 22.9 or around 19.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,313.4 (down 0.2%). Over the last one year it has moved up from 16,441.0 to 18,313.4, a gain of 1,872 points (up 11.4%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 143.0, the price to earnings (P/E) ratio of WELSPUN CORP stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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