DEN NETWORKS Announces Quarterly Results (2QFY20); Net Profit Down 53.6%

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DEN NETWORKS Announces Quarterly Results (2QFY20); Net Profit Down 53.6%
Mon, 14 Oct

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

DEN NETWORKS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m3,1043,1323,3246.2%7.1%
Other incomeRs m47512424-17.3%806.0%
TurnoverRs m3,1513,6443,7482.9%19.0%
ExpensesRs m2,5952,7202,8394.4%9.4%
Gross profitRs m91341248517.8%-46.9%
DepreciationRs m62857775130.1%19.5%
InterestRs m14617663-64.3%-56.9%
Profit before taxRs m18617196-44.1%-48.5%
TaxRs m323724-33.5%-24.5%
Profit after taxRs m15313471-47.0%-53.6%
Gross profit margin%29.413.214.6
Effective tax rate%17.421.525.5
Net profit margin%4.93.71.9
* 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 7.1% on a year-on-year (YoY) basis. The expenses were up by 9.4% YoY during the same period.
  • The company's operating profit declined by 46.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 2QFY20 as against 29.4% in 2QFY19.
  • Depreciation charges increased by 19.5% and finance costs declined by 56.9% YoY, respectively.
  • Other income increased by 806.0% YoY during the quarter.
  • Net profit for the quarter declined by 53.6% YoY. Net profit margins during the quarter declined from 4.9% in 2QFY19 to 1.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.4% QoQ during the same period.
  • The company's operating profit increased by 17.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.6% in 2QFY20 as against 13.2% in 1QFY19.
  • Net profit for the quarter declined by 47.0% QoQ, while net profit margins declined from 3.7% in 1QFY19 to 1.9% in 2QFY20.

To see how DEN NETWORKS has performed over the last eight quarters,please visit here.

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DEN NETWORKS Share Price Performance

Over the last one year,DEN NETWORKS share price has moved down from Rs 68.3 to Rs 50.7, registering a Loss of Rs 17.6 or around 25.8%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,495.6 (down 1.1%). Over the last one year it has moved up from 7,127.8 to 7,495.6, a gain of 368 points (up 5.2%).

Overall, the S&P BSE SENSEX is up 12.2% over the year.

Current Valuations

At the current price of Rs 50.7, the price to book value (P/BV) ratio of DEN NETWORKS stands at 1.0 times.

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Related Views on News

DEN NETWORKS Announces Quarterly Results (1QFY20); Net Profit Up 147.9% (Quarterly Result Update)

Jul 15, 2019 | Updated on Jul 15, 2019

For the quarter ended June 2019, DEN NETWORKS has posted a net profit of Rs 134 m (up 147.9% YoY). Sales on the other hand came in at Rs 3 bn (down 0.3% YoY). Read on for a complete analysis of DEN NETWORKS's quarterly results.

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