ARVIND LTD. Announces Quarterly Results (3QFY19); Net Profit Down 48.5%

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ARVIND LTD. Announces Quarterly Results (3QFY19); Net Profit Down 48.5%
Tue, 12 Feb

ARVIND LTD. has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

ARVIND LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m29,05817,92916,803-6.3%-42.2%
Other incomeRs m12223126615.3%117.8%
TurnoverRs m29,18018,16017,069-6.0%-41.5%
ExpensesRs m24,57316,10615,306-5.0%-37.7%
Gross profitRs m2,3791,6881,301-22.9%-45.3%
DepreciationRs m933588583-0.7%-37.5%
InterestRs m6715395614.1%-16.4%
Profit before taxRs m897793423-46.6%-52.8%
TaxRs m11223419-91.9%-83.1%
Profit after taxRs m785559404-27.7%-48.5%
Gross profit margin%8.29.47.7
Effective tax rate%12.529.54.5
Net profit margin%2.73.12.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 42.2% on a year-on-year (YoY) basis. The expenses were down by 37.7% YoY during the same period.
  • The company's operating profit declined by 45.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.7% in 3QFY19.
  • Depreciation charges declined by 37.5% and finance costs declined by 16.4% YoY, respectively.
  • Other income increased by 117.8% YoY during the quarter.
  • Net profit for the quarter declined by 48.5% YoY. Net profit margins during the quarter declined from 2.7% in 3QFY18 to 2.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.0% QoQ during the same period.
  • The company's operating profit declined by 22.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.7% in 3QFY19 as against 9.4% in 2QFY18.
  • Net profit for the quarter declined by 27.7% QoQ, while net profit margins declined from 3.1% in 2QFY18 to 2.4% in 3QFY19.

To see how ARVIND LTD. has performed over the last eight quarters, please visit here.

ARVIND LTD. Share Price Performance

Over the last one year, ARVIND LTD. share price has moved up from Rs 143.4 to Rs 79.7, registering a Loss of Rs 63.7 or around 44.4%.

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 79.7, the price to earnings (P/E) ratio of ARVIND LTD. stands at 7.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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