JK PAPER Announces Quarterly Results (4QFY19); Net Profit Up 52.5%

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JK PAPER Announces Quarterly Results (4QFY19); Net Profit Up 52.5%
Fri, 10 May

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

JK PAPER Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,5228,6958,068-7.2%7.3%
Other incomeRs m7014524166.9%246.1%
TurnoverRs m7,5918,8398,309-6.0%9.5%
ExpensesRs m5,8466,2195,883-5.4%0.6%
Gross profitRs m1,6762,4762,185-11.8%30.4%
DepreciationRs m303319314-1.4%3.7%
InterestRs m33031434810.6%5.3%
Profit before taxRs m1,1121,9881,764-11.2%58.6%
TaxRs m376785642-18.3%70.5%
Profit after taxRs m7361,2031,122-6.7%52.5%
Gross profit margin%22.328.527.1
Effective tax rate%33.839.536.4
Net profit margin%9.713.613.5
* 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 7.3% on a year-on-year (YoY) basis. The expenses were up by 0.6% YoY during the same period.
  • The company's operating profit increased by 30.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.1% in 4QFY19 as against 22.3% in 4QFY18.
  • Depreciation charges increased by 3.7% and finance costs increased by 5.3% YoY, respectively.
  • Other income increased by 246.1% YoY during the quarter.
  • Net profit for the quarter increased by 52.5% YoY. Net profit margins during the quarter increased from 9.7% in 4QFY18 to 13.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.4% QoQ during the same period.
  • The company's operating profit declined by 11.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.1% in 4QFY19 as against 28.5% in 3QFY18.
  • Net profit for the quarter declined by 6.7% QoQ, while net profit margins declined from 13.6% in 3QFY18 to 13.5% in 4QFY19.

To see how JK PAPER has performed over the last eight quarters, please visit here.

JK PAPER Share Price Performance

Over the last one year, JK PAPER share price has moved up from Rs 149.8 to Rs 137.5, registering a Loss of Rs 12.3 or around 8.2%.

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 137.5, the price to earnings (P/E) ratio of JK PAPER stands at 5.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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For the quarter ended June 2019, JK PAPER has posted a net profit of Rs 1 bn (up 43.1% YoY). Sales on the other hand came in at Rs 7 bn (down 10.4% YoY). Read on for a complete analysis of JK PAPER's quarterly results.

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