CENTURY TEXTILES Announces Quarterly Results (1QFY20); Net Profit Down 56.0%

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CENTURY TEXTILES Announces Quarterly Results (1QFY20); Net Profit Down 56.0%
Fri, 16 Aug

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

CENTURY TEXTILES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m21,8829,3888,744-6.9%-60.0%
Other incomeRs m21269868-90.3%-68.1%
TurnoverRs m22,09410,0858,811-12.6%-60.1%
ExpensesRs m17,5417,0706,808-3.7%-61.2%
Gross profitRs m4,3412,3171,935-16.5%-55.4%
DepreciationRs m77847654514.6%-30.0%
InterestRs m999108219102.5%-78.1%
Profit before taxRs m2,7752,4321,239-49.0%-55.3%
TaxRs m960897440-50.9%-54.2%
Profit after taxRs m1,8151,535799-47.9%-56.0%
Gross profit margin%19.824.722.1
Effective tax rate%34.636.935.5
Net profit margin%8.215.29.1
* 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 60.0% on a year-on-year (YoY) basis. The expenses were down by 61.2% YoY during the same period.
  • The company's operating profit declined by 55.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.1% in 1QFY20 as against 19.8% in 1QFY19.
  • Depreciation charges declined by 30.0% and finance costs declined by 78.1% YoY, respectively.
  • Other income declined by 68.1% YoY during the quarter.
  • Net profit for the quarter declined by 56.0% YoY. Net profit margins during the quarter increased from 8.2% in 1QFY19 to 9.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.7% 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 22.1% in 1QFY20 as against 24.7% in 4QFY19.
  • Net profit for the quarter declined by 47.9% QoQ, while net profit margins declined from 15.2% in 4QFY19 to 9.1% in 1QFY20.

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

CENTURY TEXTILES Share Price Performance

Over the last one year,CENTURY TEXTILES share price has moved down from Rs 911.8 to Rs 900.7, registering a Loss of Rs 11.1 or around 1.2%.

Overall, the S&P BSE SENSEX is down 1.4% over the year.

Current Valuations

At the current price of Rs 900.7, the price to earnings (P/E) ratio of CENTURY TEXTILES stands at 19.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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Related Views on News

CENTURY TEXTILES Announces Quarterly Results (2QFY20); Net Profit Up 28.8% (Quarterly Result Update)

Nov 12, 2019 | Updated on Nov 12, 2019

For the quarter ended September 2019, CENTURY TEXTILES has posted a net profit of Rs 2 bn (up 28.8% YoY). Sales on the other hand came in at Rs 9 bn (down 57.6% YoY). Read on for a complete analysis of CENTURY TEXTILES's quarterly results.

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