COX & KINGS Announces Quarterly Results (2QFY19); Net Profit Down 39.0%

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COX & KINGS Announces Quarterly Results (2QFY19); Net Profit Down 39.0%
Fri, 16 Nov

COX & KINGS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

COX & KINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m15,93921,83918,669-14.5%17.1%
Other incomeRs m6717723231.1%245.0%
TurnoverRs m16,00622,01618,901-14.1%18.1%
ExpensesRs m12,46218,86015,843-16.0%27.1%
Gross profitRs m3,4562,9272,445-16.5%-29.3%
DepreciationRs m2352812830.7%20.4%
InterestRs m622613593-3.3%-4.6%
Profit before taxRs m2,6662,2101,800-18.5%-32.5%
TaxRs m644841566-32.7%-12.1%
Profit after taxRs m2,0221,3691,234-9.8%-39.0%
Gross profit margin%21.713.413.1
Effective tax rate%24.138.131.4
Net profit margin%12.66.26.5
* 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 17.1% on a year-on-year (YoY) basis. The expenses were up by 27.1% YoY during the same period.
  • The company's operating profit declined by 29.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 2QFY19 as against 21.7% in 2QFY18.
  • Depreciation charges increased by 20.4% and finance costs declined by 4.6% YoY, respectively.
  • Other income increased by 245.0% YoY during the quarter.
  • Net profit for the quarter declined by 39.0% YoY. Net profit margins during the quarter declined from 12.6% in 2QFY18 to 6.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 14.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.0% QoQ during the same period.
  • The company's operating profit declined by 16.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 2QFY19 as against 13.4% in 1QFY18.
  • Net profit for the quarter declined by 9.8% QoQ, while net profit margins increased from 6.2% in 1QFY18 to 6.5% in 2QFY19.

To see how COX & KINGS has performed over the last eight quarters, please visit here.

COX & KINGS Share Price Performance

Over the last one year, COX & KINGS share price has moved up from Rs 250.4 to Rs 189.8, registering a Loss of Rs 60.6 or around 24.2%.

Overall, the S&P BSE SENSEX is up 8.4% over the year.

Current Valuations

At the current price of Rs 189.8, the price to earnings (P/E) ratio of COX & KINGS stands at 10.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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