GOODYEAR (I) Announces Quarterly Results (2QFY19); Net Profit Down 31.4%

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GOODYEAR (I) Announces Quarterly Results (2QFY19); Net Profit Down 31.4%
Mon, 12 Nov

GOODYEAR (I) has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

GOODYEAR (I) Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,1765,3464,893-8.5%17.2%
Other incomeRs m76889811.4%28.6%
TurnoverRs m4,2535,4344,991-8.2%17.4%
ExpensesRs m3,5164,9464,441-10.2%26.3%
Gross profitRs m66140045313.1%-31.5%
DepreciationRs m871001021.7%17.1%
InterestRs m787-1.3%4.2%
Profit before taxRs m64338144216.0%-31.3%
TaxRs m22413315415.9%-31.0%
Profit after taxRs m41924828716.0%-31.4%
Gross profit margin%15.87.59.3
Effective tax rate%34.835.034.9
Net profit margin%9.94.65.8
* 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 grew 17.2% on a year-on-year (YoY) basis. The expenses were up by 26.3% YoY during the same period.
  • The company's operating profit declined by 31.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.3% in 2QFY19 as against 15.8% in 2QFY18.
  • Depreciation charges increased by 17.1% and finance costs increased by 4.2% YoY, respectively.
  • Other income increased by 28.6% YoY during the quarter.
  • Net profit for the quarter declined by 31.4% YoY. Net profit margins during the quarter declined from 9.9% in 2QFY18 to 5.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.2% QoQ during the same period.
  • The company's operating profit increased by 13.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.3% in 2QFY19 as against 7.5% in 1QFY18.
  • Net profit for the quarter increased by 16.0% QoQ, while net profit margins increased from 4.6% in 1QFY18 to 5.8% in 2QFY19.

To see how GOODYEAR (I) has performed over the last eight quarters, please visit here.

GOODYEAR (I) Share Price Performance

Over the last one year, GOODYEAR (I) share price has moved up from Rs 802.4 to Rs 938.1, registering a Gain of Rs 135.7 or around 16.9%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 938.1, the price to earnings (P/E) ratio of GOODYEAR (I) stands at 19.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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