CHOLAMANDALAM INVEST. Announces Quarterly Results (4QFY19); Net Profit Up 0.8%

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CHOLAMANDALAM INVEST. Announces Quarterly Results (4QFY19); Net Profit Up 0.8%
Tue, 7 May

CHOLAMANDALAM INVEST. has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

CHOLAMANDALAM INVEST. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m15,36818,30718,8513.0%22.7%
Other incomeRs m313136.4%4.0%
TurnoverRs m15,37018,30818,8533.0%22.7%
ExpensesRs m4,6653,9614,2266.7%-9.4%
Gross profitRs m10,70814,34614,6251.9%36.6%
DepreciationRs m153151150-0.5%-1.7%
InterestRs m6,1929,5619,8643.2%59.3%
Profit before taxRs m4,3664,6354,614-0.5%5.7%
TaxRs m1,4701,5911,6956.5%15.3%
Profit after taxRs m2,8963,0442,919-4.1%0.8%
Gross profit margin%69.778.477.6
Effective tax rate%33.734.336.7
Net profit margin%18.816.615.5
* 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 22.7% on a year-on-year (YoY) basis. The expenses were down by 9.4% YoY during the same period.
  • The company's operating profit increased by 36.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 77.6% in 4QFY19 as against 69.7% in 4QFY18.
  • Depreciation charges declined by 1.7% and finance costs increased by 59.3% YoY, respectively.
  • Other income increased by 4.0% YoY during the quarter.
  • Net profit for the quarter increased by 0.8% YoY. Net profit margins during the quarter declined from 18.8% in 4QFY18 to 15.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
  • The company's operating profit declined by 1.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 77.6% in 4QFY19 as against 78.4% in 3QFY18.
  • Net profit for the quarter declined by 4.1% QoQ, while net profit margins declined from 16.6% in 3QFY18 to 15.5% in 4QFY19.

To see how CHOLAMANDALAM INVEST. has performed over the last eight quarters, please visit here.

CHOLAMANDALAM INVEST. Share Price Performance

Over the last one year, CHOLAMANDALAM INVEST. share price has moved up from Rs 1,670.8 to Rs 1,318.3, registering a Loss of Rs 352.6 or around 21.1%.

Overall, the S&P BSE SENSEX is up 9.9% over the year.

Current Valuations

At the current price of Rs 1,318.3, the price to earnings (P/E) ratio of CHOLAMANDALAM INVEST. stands at 16.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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For the quarter ended December 2018, CHOLAMANDALAM INVEST. has posted a net profit of Rs 3 bn (up 21.7% YoY). Sales on the other hand came in at Rs 18 bn (up 30.4% YoY). Read on for a complete analysis of CHOLAMANDALAM INVEST.'s quarterly results.

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