WELSPUN CORP Announces Quarterly Results (3QFY19); Net Profit Down 41.9%

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WELSPUN CORP Announces Quarterly Results (3QFY19); Net Profit Down 41.9%
Tue, 12 Feb

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

WELSPUN CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m23,04223,54726,57912.9%15.4%
Other incomeRs m196853401-53.0%104.5%
TurnoverRs m23,23824,40026,97910.6%16.1%
ExpensesRs m21,59322,01524,74512.4%14.6%
Gross profitRs m1,4481,2091,83451.6%26.6%
DepreciationRs m949954944-1.1%-0.6%
InterestRs m375507475-6.4%26.8%
Profit before taxRs m32160181635.7%154.6%
TaxRs m-56543302602.8%
Profit after taxRs m886558515-7.9%-41.9%
Gross profit margin%6.35.16.9
Effective tax rate%-176.47.136.9
Net profit margin%3.82.31.9
* 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 15.4% on a year-on-year (YoY) basis. The expenses were up by 14.6% YoY during the same period.
  • The company's operating profit increased by 26.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.9% in 3QFY19 as against 6.3% in 3QFY18.
  • Depreciation charges declined by 0.6% and finance costs increased by 26.8% YoY, respectively.
  • Other income increased by 104.5% YoY during the quarter.
  • Net profit for the quarter declined by 41.9% YoY. Net profit margins during the quarter declined from 3.8% in 3QFY18 to 1.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.4% QoQ during the same period.
  • The company's operating profit increased by 51.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.9% in 3QFY19 as against 5.1% in 2QFY18.
  • Net profit for the quarter declined by 7.9% QoQ, while net profit margins declined from 2.3% in 2QFY18 to 1.9% in 3QFY19.

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 164.1 to Rs 98.3, registering a Loss of Rs 65.8 or around 40.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,594.9 (down 0.0%). Over the last one year it has moved down from 19,558.3 to 16,594.9, a gain of 2,963 points (down 15.2%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 98.3, the price to earnings (P/E) ratio of WELSPUN CORP stands at 13.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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