D. B. CORP Announces Quarterly Results (2QFY19); Net Profit Down 41.3%

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D. B. CORP Announces Quarterly Results (2QFY19); Net Profit Down 41.3%
Fri, 9 Nov

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

D. B. CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,6836,3245,821-8.0%2.4%
Other incomeRs m576854-21.7%-6.5%
TurnoverRs m5,7416,3925,874-8.1%2.3%
ExpensesRs m4,2844,6444,8985.5%14.3%
Gross profitRs m1,3991,680923-45.1%-34.0%
DepreciationRs m2292432513.1%9.7%
InterestRs m20183070.7%47.0%
Profit before taxRs m1,2071,488696-53.2%-42.4%
TaxRs m421512234-54.3%-44.4%
Profit after taxRs m787976462-52.7%-41.3%
Gross profit margin%24.626.615.9
Effective tax rate%34.834.433.6
Net profit margin%13.715.37.9
* 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 2.4% on a year-on-year (YoY) basis. The expenses were up by 14.3% YoY during the same period.
  • The company's operating profit declined by 34.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 2QFY19 as against 24.6% in 2QFY18.
  • Depreciation charges increased by 9.7% and finance costs increased by 47.0% YoY, respectively.
  • Other income declined by 6.5% YoY during the quarter.
  • Net profit for the quarter declined by 41.3% YoY. Net profit margins during the quarter declined from 13.7% in 2QFY18 to 7.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.5% QoQ during the same period.
  • The company's operating profit declined by 45.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.9% in 2QFY19 as against 26.6% in 1QFY18.
  • Net profit for the quarter declined by 52.7% QoQ, while net profit margins declined from 15.3% in 1QFY18 to 7.9% in 2QFY19.

To see how D. B. CORP has performed over the last eight quarters, please visit here.

D. B. CORP Share Price Performance

Over the last one year, D. B. CORP share price has moved up from Rs 367.0 to Rs 169.1, registering a Loss of Rs 197.9 or around 53.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,093.5 (down 1.3%). Over the last one year it has moved up from 6,131.5 to 7,093.5, a gain of 962 points (up 15.7%).

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 169.1, the price to earnings (P/E) ratio of D. B. CORP stands at 11.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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For the quarter ended September 2019, D. B. CORP has posted a net profit of Rs 756 m (up 63.6% YoY). Sales on the other hand came in at Rs 5 bn (down 8.7% YoY). Read on for a complete analysis of D. B. CORP's quarterly results.

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