ASK Automotive Q1 Results Impressive Profit After Tax of ₹56.83 Crore

ASK Automotive Growth Comparison

ASK Automotive Q1 Results: ASK Automotive has shared its Q1 results for the fiscal period ending June 2024. The total revenue for this quarter is ₹862.20 Cr., which shows a significant increase when compared year-over-year (YoY). In the same quarter last year, the revenue was ₹656.51 Cr., marking a YoY increase of around 31%. This improvement reflects the company's strong sales performance. The operating income also rose to ₹80.41 Cr., up from ₹50.95 Cr. a year ago, resulting in a YoY increase of 57.94%. This indicates that ASK Automotive is managing its costs effectively, leading to higher profits. 

ASK Automotive’s Net Income for this quarter is ₹56.83 Cr., compared to ₹34.83 Cr. in the previous year, which is a YoY increase of 63.22%. This positive trend shows that the company is growing its profits effectively. Additionally, the diluted normalized earnings per share (EPS) reached ₹2.88, a YoY increase from ₹1.77, which is a growth of 62.71%. While the quarter-on-quarter (QoQ) changes show that total revenue rose from ₹782.51 Cr. in the previous quarter, the YoY growth highlights the company's overall positive performance over the past year, indicating a strong and improving financial position.

Here’s a summary of ASK Automotive's Q1 results for fiscal period June 2024, including a year-over-year (YoY) comparison:

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ASK Automotive Q1 Results

The ASK Automotive financial results show the company's performance for the quarter ended 30 June 2024. The company earned a total income of ₹864.86 crore, which is the sum of its revenue from operations and other income. This amount is higher than the ₹657.55 crore earned in the same quarter last year. The company's expenses were ₹790.23 crore, which includes costs for materials, employee salaries, and other operating expenses. These expenses also increased from ₹612.11 crore in June 2023.

ASK Automotive After subtracting the total expenses from the total income, ASK Automotive made a profit before tax of ₹75.97 crore, which is an improvement compared to ₹47.65 crore in the same quarter last year. The tax expense for the quarter was ₹19.14 crore, leading to a profit after tax of ₹56.83 crore. This is a significant increase from the previous year's ₹34.84 crore. Additionally, the company reported earnings per share of ₹2.88, reflecting its positive financial growth. Overall, these results indicate that ASK Automotive is performing well, with rising income and profits compared to the previous year.

Here’s a simplified presentation of the Statement of Consolidated Financial Results for the quarter ended 30 June 2024, including key figures and totals.

(Rs. in Lakhs, except the share)

ASK Automotive Stock Metrics

The ASK Automotive table provides important financial details about the company. The Market Cap of ₹ 8,125 Crores shows its total value in the stock market. The Current Price of ₹ 412 indicates what each share costs right now. The High/Low values (₹ 485 and ₹ 240) represent the highest and lowest prices for the stock in a specific period. The Stock P/E ratio of 41.5 helps investors understand how expensive the stock is compared to its earnings.

Here's the information presented in a table format for easy reference:

Quarterly Results 

The ASK Automotive table shows the company's financial performance for December 2023, March 2024, and June 2024. In December 2023, the company had sales of 762 crores and a net profit of 50 crores. By March 2024, sales increased slightly to 783 crores, but the net profit decreased to 48 crores. However, in June 2024, the company saw a significant rise in sales to 862 crores and improved its net profit to 57 crores. 

Here is the table for the financial results of December 2023, March 2024, and June 2024:

(Consolidated Figures in Rs. Crores)

About ASK Automotive

ASK Automotive is a major Indian company that specializes in making advanced braking systems for vehicles. Founded in 1988 by Mr. Kuldip Singh Rathee, the company has grown to become the largest manufacturer of two-wheeler braking systems in India, holding around 50% of the market share. They produce important products like brake shoes, disc brake pads, and brake panel assemblies. Besides braking systems, ASK Automotive also manufactures lightweight aluminum parts and safety control cables, which are used in various vehicles.

ASK Automotive operates 17 modern manufacturing plants close to major automobile companies, which helps them deliver products on time. They have received many quality and safety certifications, showing their commitment to high standards. ASK Automotive has strong partnerships with well-known vehicle manufacturers like Honda, Suzuki, and Royal Enfield, ensuring a stable market presence.