WABCO INDIA Announces Quarterly Results (3QFY21); Net Profit Up 35.5%

Thu, 11 Feb

WABCO INDIA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

WABCO INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	4,409	4,187	5,665	35.3%	28.5%
Other income	Rs m	158	111	78	-29.4%	-50.5%
Turnover	Rs m	4,567	4,298	5,743	33.6%	25.7%
Expenses	Rs m	3,808	3,555	4,788	34.7%	25.7%
Gross profit	Rs m	602	632	877	38.9%	45.8%
Depreciation	Rs m	223	224	223	-0.5%	-0.3%
Interest	Rs m	5	9	2	-73.8%	-45.8%
Profit before tax	Rs m	532	509	730	43.4%	37.3%
Tax	Rs m	145	158	206	30.3%	42.2%
Profit after tax	Rs m	387	351	524	49.3%	35.5%
Gross profit margin	%	13.7	15.1	15.5
Effective tax rate	%	27.3	31.1	28.2
Net profit margin	%	8.5	8.2	9.1

Year-on-Year Performance:

• The company's operating income during the quarter grew 28.5% on a year-on-year (YoY) basis. The expenses were up by 25.7% YoY during the same period.
• The company's operating profit increased by 45.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.5% in 3QFY21 as against 13.7% in 3QFY20.
• Depreciation charges declined by 0.3% and finance costs declined by 45.8% YoY, respectively.
• Other income declined by 50.5% YoY during the quarter.
• Net profit for the quarter increased by 35.5% YoY. Net profit margins during the quarter increased from 8.5% in 3QFY20 to 9.1% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 35.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 34.7% QoQ during the same period.
• The company's operating profit increased by 38.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.5% in 3QFY21 as against 15.1% in 2QFY20.
• Net profit for the quarter increased by 49.3% QoQ, while net profit margins increased from 8.2% in 2QFY20 to 9.1% in 3QFY21.

To see how WABCO INDIA has performed over the last eight quarters,please visit here.

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WABCO INDIA Share Price Performance

Over the last one year, WABCO INDIA share price has moved down from Rs 6,809.8 to Rs 5,900.0, registering a Loss of Rs 909.8 or around 13.4%.

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 5,900.0, the price to earnings (P/E) ratio of WABCO INDIA stands at 127.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.