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CENTURY TEXTILES Announces Quarterly Results (2QFY19); Net Profit Up 111.9%

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CENTURY TEXTILES Announces Quarterly Results (2QFY19); Net Profit Up 111.9%
Fri, 9 Nov

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

CENTURY TEXTILES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m18,21721,88220,889-4.5%14.7%
Other incomeRs m2292122183.1%-4.6%
TurnoverRs m18,44622,09421,107-4.5%14.4%
ExpensesRs m15,35517,54117,117-2.4%11.5%
Gross profitRs m2,8624,3413,772-13.1%31.8%
DepreciationRs m797778778-0.1%-2.4%
InterestRs m1,193999900-9.9%-24.6%
Profit before taxRs m1,1002,7752,313-16.7%110.2%
TaxRs m345960712-25.8%106.4%
Profit after taxRs m7551,8151,601-11.8%111.9%
Gross profit margin%15.719.818.1
Effective tax rate%31.434.630.8
Net profit margin%4.18.27.6
* 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 14.7% on a year-on-year (YoY) basis. The expenses were up by 11.5% YoY during the same period.
  • The company's operating profit increased by 31.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.1% in 2QFY19 as against 15.7% in 2QFY18.
  • Depreciation charges declined by 2.4% and finance costs declined by 24.6% YoY, respectively.
  • Other income declined by 4.6% YoY during the quarter.
  • Net profit for the quarter increased by 111.9% YoY. Net profit margins during the quarter increased from 4.1% in 2QFY18 to 7.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.5% 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 13.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.1% in 2QFY19 as against 19.8% in 1QFY18.
  • Net profit for the quarter declined by 11.8% QoQ, while net profit margins declined from 8.2% in 1QFY18 to 7.6% in 2QFY19.

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 up from Rs 1,339.3 to Rs 884.5, registering a Loss of Rs 454.9 or around 34.0%.

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 884.5, the price to earnings (P/E) ratio of CENTURY TEXTILES stands at 16.4 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 2018, CENTURY TEXTILES has posted a net profit of Rs 885 m (down 9.0% YoY). Sales on the other hand came in at Rs 10 bn (down 54.0% YoY). Read on for a complete analysis of CENTURY TEXTILES's quarterly results.

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