GE T&D INDIA Announces Quarterly Results (2QFY19); Net Profit Up 8.3%
Thu, 15 Nov

GE T&D INDIA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

GE T&D INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,70011,6249,933-14.5%14.2%
Other incomeRs m34419223823.8%-30.9%
TurnoverRs m9,04311,81610,171-13.9%12.5%
ExpensesRs m7,89510,1829,012-11.5%14.1%
Gross profitRs m8051,442921-36.1%14.5%
DepreciationRs m228217215-0.8%-5.7%
InterestRs m225155143-7.8%-36.6%
Profit before taxRs m6951,262801-36.5%15.3%
TaxRs m220442287-35.2%30.2%
Profit after taxRs m475821515-37.3%8.3%
Gross profit margin%9.312.49.3
Effective tax rate%31.635.035.8
Net profit margin%5.36.95.1
* 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 14.2% on a year-on-year (YoY) basis. The expenses were up by 14.1% YoY during the same period.
  • The company's operating profit increased by 14.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 9.3% in 2QFY19.
  • Depreciation charges declined by 5.7% and finance costs declined by 36.6% YoY, respectively.
  • Other income declined by 30.9% YoY during the quarter.
  • Net profit for the quarter increased by 8.3% YoY. Net profit margins during the quarter declined from 5.3% in 2QFY18 to 5.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 14.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.5% QoQ during the same period.
  • The company's operating profit declined by 36.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.3% in 2QFY19 as against 12.4% in 1QFY18.
  • Net profit for the quarter declined by 37.3% QoQ, while net profit margins declined from 6.9% in 1QFY18 to 5.1% in 2QFY19.

To see how GE T&D INDIA has performed over the last eight quarters, please visit here.

GE T&D INDIA Share Price Performance

Over the last one year, GE T&D INDIA share price has moved up from Rs 389.4 to Rs 232.0, registering a Loss of Rs 157.4 or around 40.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,426.3 (up 0.6%). Over the last one year it has moved up from 18,070.5 to 18,426.3, a gain of 356 points (up 2.0%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 232.0, the price to earnings (P/E) ratio of GE T&D INDIA stands at 25.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.0 times.