BANCO PROD. Announces Quarterly Results (4QFY19); Net Profit Down 14.0%

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BANCO PROD. Announces Quarterly Results (4QFY19); Net Profit Down 14.0%
Thu, 13 Jun

BANCO PROD. has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

BANCO PROD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m2,9753,3273,70311.3%24.5%
Other incomeRs m1089124-73.9%-78.0%
TurnoverRs m3,0833,4183,7279.0%20.9%
ExpensesRs m2,4993,2473,3031.7%32.2%
Gross profitRs m47781400396.5%-16.0%
DepreciationRs m8273730.3%-10.5%
InterestRs m5111971.6%259.6%
Profit before taxRs m49787332279.7%-33.3%
TaxRs m228146100-31.8%-56.1%
Profit after taxRs m270-59232-14.0%
Gross profit margin%16.02.410.8
Effective tax rate%45.7167.430.1
Net profit margin%8.8-1.76.2
* 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 grew 24.5% on a year-on-year (YoY) basis. The expenses were up by 32.2% YoY during the same period.
  • The company's operating profit declined by 16.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 4QFY19 as against 16.0% in 4QFY18.
  • Depreciation charges declined by 10.5% and finance costs increased by 259.6% YoY, respectively.
  • Other income declined by 78.0% YoY during the quarter.
  • Net profit for the quarter declined by 14.0% YoY. Net profit margins during the quarter declined from 8.8% in 4QFY18 to 6.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.7% QoQ during the same period.
  • The company's operating profit increased by 396.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.8% in 4QFY19 as against 2.4% in 3QFY18.
  • Net profit for the quarter increased by 494.1% QoQ, while net profit margins increased from -1.7% in 3QFY18 to 6.2% in 4QFY19.

To see how BANCO PROD. has performed over the last eight quarters, please visit here.

BANCO PROD. Share Price Performance

Over the last one year, BANCO PROD. share price has moved up from Rs 224.2 to Rs 132.5, registering a Loss of Rs 91.7 or around 40.9%.

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 132.5, the price to earnings (P/E) ratio of BANCO PROD. stands at 11.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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Related Views on News

BANCO PROD. Announces Quarterly Results (1QFY20); Net Profit Down 4.1% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, BANCO PROD. has posted a net profit of Rs 299 m (down 4.1% YoY). Sales on the other hand came in at Rs 4 bn (down 13.4% YoY). Read on for a complete analysis of BANCO PROD.'s quarterly results.

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