GNA Axles Q1 net profit turns around to Rs29.48cr on the back of a 4-fold increase in sales revenues post-pandemic

GNA Axles Ltd 4-fold increase in in total sales revenues for the Jun-21 quarter on consolidated basis at Rs328.96cr

Jul 24, 2021 11:07 IST India Infoline News Service

GNA Axles Ltd reported 4-fold increase in in total sales revenues for the Jun-21 quarter on consolidated basis at Rs328.96cr. On a sequential basis, revenues were up 6.08% compared to Rs310.12cr revenues in Mar-21 quarter with limited impact of COVID 2.0 on sales.

The company is into manufacture of axles which is a key component of cars and other vehicles. However, the lockdown in the previous led to substantial cuts in production by auto companies which, coupled with supply chain constraints, hit output at auto ancillary units.

Net profit for the Jun-21 quarter turned around to Rs29.48cr on a yoy basis as against a net loss of Rs-6.57cr in the Jun-20 quarter. However, on a sequential basis, the PAT was marginally higher by about 6.66% as the COVID 2.0 had limited impact due to better planning by auto companies and also by auto component companies.

Supply chain constraints have resulted in a sharp spike in raw material costs which is up nearly 31% sequentially although sales are almost same. Net margins were flat at 8.96% QOQ.


Financial highlights for Jun-21 compared yoy and sequentially


GNA Axles
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 328.96 ₹ 81.33 304.48% ₹ 310.12 6.08%
Net Profit (Rs cr) ₹ 29.48 ₹ -6.57 N.A. ₹ 27.64 6.66%
Diluted EPS (Rs) ₹ 13.73 ₹ -3.06 ₹ 12.88
Net Margins 8.96% -8.08% 8.91%

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