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

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CENTURY TEXTILES Announces Quarterly Results (2QFY20); Net Profit Up 28.8%
Tue, 12 Nov

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

CENTURY TEXTILES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m20,8898,7448,8521.2%-57.6%
Other incomeRs m2186853-21.6%-75.7%
TurnoverRs m21,1078,8118,9051.1%-57.8%
ExpensesRs m17,1176,8087,1014.3%-58.5%
Gross profitRs m3,7721,9351,751-9.5%-53.6%
DepreciationRs m7785455806.4%-25.4%
InterestRs m900219165-24.8%-81.7%
Profit before taxRs m2,3131,2391,059-14.5%-54.2%
TaxRs m712440-1,002-327.8%-240.8%
Profit after taxRs m1,6017992,062157.9%28.8%
Gross profit margin%18.122.119.8
Effective tax rate%30.835.5-94.6
Net profit margin%7.69.123.2
* 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 57.6% on a year-on-year (YoY) basis. The expenses were down by 58.5% YoY during the same period.
  • The company's operating profit declined by 53.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.8% in 2QFY20 as against 18.1% in 2QFY19.
  • Depreciation charges declined by 25.4% and finance costs declined by 81.7% YoY, respectively.
  • Other income declined by 75.7% YoY during the quarter.
  • Net profit for the quarter increased by 28.8% YoY. Net profit margins during the quarter increased from 7.6% in 2QFY19 to 23.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.3% QoQ during the same period.
  • The company's operating profit declined by 9.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.8% in 2QFY20 as against 22.1% in 1QFY19.
  • Net profit for the quarter increased by 157.9% QoQ, while net profit margins increased from 9.1% in 1QFY19 to 23.2% in 2QFY20.

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

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CENTURY TEXTILES Share Price Performance

Over the last one year,CENTURY TEXTILES share price has moved down from Rs 401.1 to Rs 388.3, registering a Loss of Rs 12.9 or around 3.2%.

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 388.3, the price to earnings (P/E) ratio of CENTURY TEXTILES stands at 8.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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