TUBE INVESTMENTS OF INDIA Announces Quarterly Results (1QFY22); Net Profit Up 306.6%

Mon, 16 Aug

TUBE INVESTMENTS OF INDIA has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

TUBE INVESTMENTS OF INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	4,568	27,328	24,375	-10.8%	433.6%
Other income	Rs m	77	814	254	-68.8%	230.4%
Turnover	Rs m	4,645	28,142	24,629	-12.5%	430.2%
Expenses	Rs m	4,908	24,694	21,570	-12.7%	339.5%
Gross profit	Rs m	-423	2,406	2,805	16.6%
Depreciation	Rs m	445	941	967	2.8%	117.2%
Interest	Rs m	60	142	244	72.5%	307.8%
Profit before tax	Rs m	-851	2,137	1,848	-13.5%
Tax	Rs m	-197	533	497	-6.7%
Profit after tax	Rs m	-654	1,604	1,351	-15.8%
Gross profit margin	%	-9.3	8.8	11.5
Effective tax rate	%	23.2	24.9	26.9
Net profit margin	%	-14.1	5.7	5.5

Year-on-Year Performance:

• The company's operating income during the quarter grew 433.6% on a year-on-year (YoY) basis. The expenses were up by 339.5% YoY during the same period.
• The company's operating profit declined by 763.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.5% in 1QFY22 as against 9.3% in 1QFY21.
• Depreciation charges increased by 117.2% and finance costs increased by 307.8% YoY, respectively.
• Other income increased by 230.4% YoY during the quarter.
• Net profit for the quarter increased by 306.6% YoY. Net profit margins during the quarter increased from -14.1% in 1QFY21 to 5.5% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.7% QoQ during the same period.
• The company's operating profit increased by 16.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.5% in 1QFY22 as against 8.8% in 4QFY21.
• Net profit for the quarter declined by 15.8% QoQ, while net profit margins declined from 5.7% in 4QFY21 to 5.5% in 1QFY22.

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

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TUBE INVESTMENTS OF INDIA Share Price Performance

Over the last one year, TUBE INVESTMENTS OF INDIA share price has moved up from Rs 590.0 to Rs 1,260.0, registering a Gain of Rs 670.0 or around 113.6%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 24,153.2 (down 0.7%). Over the last one year it has moved up from 13,777.8 to 24,153.2, a gain of 10,375 points (up 75.3%).

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 1,260.0, the price to earnings (P/E) ratio of TUBE INVESTMENTS OF INDIA stands at 48.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.2 times.