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For the quarter ended September 2017, Va Tech Wabag reported a 14% rise in its consolidated sales to Rs 886.54 crore. OPM grew 130 basis points to 8.7% which saw OP grow 34% to Rs 77.49 crore.
Other income fell 88% to Rs 23 lakh and interest cost grew 32% to Rs 14.30 crore. After providing for depreciation (down 6% to Rs 4.46 crore), PBT jumped 33% to Rs 58.96 crore.
Provision for taxation grew 18% to Rs 22.03 crore, after which PAT went up 44% to Rs 36.93 crore.
Minority interest and share of profit/loss of associate companies grew 110% to Rs 3.51 crore.
Finally net profit grew 39% to Rs 33.42 crore.
Six months performance
For the six months, consolidated sales grew 15% to Rs 1555.10 crore. OPM improved 60 basps points to 8.0% which saw OP grow 23% to Rs 123.69 crore.
Other income fell 70% to Rs 2.19 crore and interest cost grew 21% to Rs 27.62 crore. After providing for depreciation (down 3% to Rs 8.98 crore), PBT grew 40% to Rs 84.90 crore.
Provision for taxation went up 29% to Rs 38.03 crore after which PAT went up 50% to Rs 46.87 crore.
Minority interest and share of profit/loss of associate companies grew 149% to Rs 5.07 crore. Finally net profit grew 43% to Rs 41.80 crore.
Consolidated segment Performance
During the quarter Indian business contributed 29% of the total revenue. Revenue grew 3% to Rs 273.33 crore. PBIT fell 62% to Rs 23.08 crore and accounted for 13% of total
During the quarter Rest of the World business accounted for 71% of the total revenue. Revenue grew 23% to Rs 658.44 crore. PBIT grew 72% to Rs 152.35 crore and accounted for 87% of total
For the six months, Indian business contributed 28% of the total revenue. Revenue fell 1% to Rs 455.11 crore. PBIT fell 51% to Rs 47.72 crore and accounted for 15% of total
For the six months, Rest of the World business accounted for 72% of the total revenue. Revenue grew 24% to Rs 1173.25 crore. PBIT grew 60% to Rs 270.10 crore and accounted for 85% of total
Valuation
The share price trades at Rs 583.
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