BRITANNIA Announces Quarterly Results (1QFY20); Net Profit Down 3.7%

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BRITANNIA Announces Quarterly Results (1QFY20); Net Profit Down 3.7%
Tue, 13 Aug

BRITANNIA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BRITANNIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m25,43827,99027,004-3.5%6.2%
Other incomeRs m4206186759.2%60.6%
TurnoverRs m25,85828,60827,678-3.2%7.0%
ExpensesRs m21,54523,62423,057-2.4%7.0%
Gross profitRs m3,8944,3663,791-13.2%-2.7%
DepreciationRs m356469448-4.5%25.6%
InterestRs m2413101708.0%313.9%
Profit before taxRs m3,9334,5023,916-13.0%-0.4%
TaxRs m1,3521,5571,430-8.1%5.8%
Profit after taxRs m2,5812,9462,486-15.6%-3.7%
Gross profit margin%15.315.614.0
Effective tax rate%34.434.636.5
Net profit margin%10.010.39.0
* 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 6.2% on a year-on-year (YoY) basis. The expenses were up by 7.0% YoY during the same period.
  • The company's operating profit declined by 2.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.0% in 1QFY20 as against 15.3% in 1QFY19.
  • Depreciation charges increased by 25.6% and finance costs increased by 313.9% YoY, respectively.
  • Other income increased by 60.6% YoY during the quarter.
  • Net profit for the quarter declined by 3.7% YoY. Net profit margins during the quarter declined from 10.0% in 1QFY19 to 9.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.4% QoQ during the same period.
  • The company's operating profit declined by 13.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.0% in 1QFY20 as against 15.6% in 4QFY19.
  • Net profit for the quarter declined by 15.6% QoQ, while net profit margins declined from 10.3% in 4QFY19 to 9.0% in 1QFY20.

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

BRITANNIA Share Price Performance

Over the last one year,BRITANNIA share price has moved down from Rs 3,209.4 to Rs 2,513.7, registering a Loss of Rs 695.7 or around 21.7%.

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 2,513.7, the price to earnings (P/E) ratio of BRITANNIA stands at 52.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.7 times.

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