GE Power India Ltd's Q2FY19 standalone net profit rises 671.6% yoy to Rs59cr

The company’s standalone revenue in the period stood at Rs563cr, up 115% yoy and 27.1% qoq.

Nov 14, 2018 10:11 IST India Infoline Research Team

GE Power India Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 563 115
EBITDA 73 --
EBITDA Margin (%) 13 1,236
Net Profit (adjusted) 59 671.6
***EBITDA margin change is bps

GE Power India Ltd reported significant earnings growth in Q2FY19 due to strong revenue growth. Revenue in the quarter grew 115% yoy to Rs563cr. EBITDA stood at Rs73cr, significantly up from Rs1.7cr in Q2FY18. EBIDTA margin stood at 13% in the quarter against an EBITDA margin of 0.6% in Q2FY18. Adjusted net profit stood at Rs59cr for Q2FY19, up from Rs7cr in Q2FY18.
  • Employee costs fell 20.9% yoy to Rs89cr in Q2FY19.
  • The company has divested a significant proportion of assets as part of its restructuring efforts. At the end of September 2018, the net block of the company stood at Rs162cr (down from Rs280cr at the end of March 2018). Depreciation costs fell 47.6% yoy in Q2FY19 to Rs7.6cr for Q2FY19.
  • Inventories have shown a sharp decrease from Rs466cr at the end of March 2018 to Rs50cr at the end of September 2018.

Technical View:

GE Power India Ltd ended at Rs812.05, down 37.75 points, or 4.44%, from its previous close of Rs849.80 on the BSE. The scrip opened at Rs848.95 and touched a high and low of Rs848.95 and Rs812.05, respectively. A total of 24,584 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200-DMA.

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