CARE RATING Announces Quarterly Results (3QFY20); Net Profit Down 42.8%

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CARE RATING Announces Quarterly Results (3QFY20); Net Profit Down 42.8%
Mon, 10 Feb

CARE RATING has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

CARE RATING Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m729716561-21.7%-23.0%
Other incomeRs m889171-21.5%-18.6%
TurnoverRs m817807633-21.6%-22.6%
ExpensesRs m3663523859.6%5.2%
Gross profitRs m363365176-51.8%-51.5%
DepreciationRs m919206.2%112.6%
InterestRs m0228.8%0.0%
Profit before taxRs m441434225-48.3%-49.0%
TaxRs m1336749-27.1%-63.4%
Profit after taxRs m307367176-52.1%-42.8%
Gross profit margin%49.750.931.3
Effective tax rate%30.315.421.7
Net profit margin%37.645.527.8
* 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 23.0% on a year-on-year (YoY) basis. The expenses were up by 5.2% YoY during the same period.
  • The company's operating profit declined by 51.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.3% in 3QFY20 as against 49.7% in 3QFY19.
  • Depreciation charges increased by 112.6% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 18.6% YoY during the quarter.
  • Net profit for the quarter declined by 42.8% YoY. Net profit margins during the quarter declined from 37.6% in 3QFY19 to 27.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 21.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.6% QoQ during the same period.
  • The company's operating profit declined by 51.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 31.3% in 3QFY20 as against 50.9% in 2QFY19.
  • Net profit for the quarter declined by 52.1% QoQ, while net profit margins declined from 45.5% in 2QFY19 to 27.8% in 3QFY20.

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

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CARE RATING Share Price Performance

Over the last one year,CARE RATING share price has moved down from Rs 982.7 to Rs 625.2, registering a Loss of Rs 357.5 or around 36.4%.

Overall, the S&P BSE SENSEX is up 10.4% over the year.

Current Valuations

At the current price of Rs 625.2, the price to earnings (P/E) ratio of CARE RATING stands at 17.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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For the quarter ended December 2020, CARE RATING has posted a net profit of Rs 189 m (up 7.7% YoY). Sales on the other hand came in at Rs 556 m (down 0.9% YoY). Read on for a complete analysis of CARE RATING's quarterly results.

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