DEEPAK NITRITE Announces Quarterly Results (1QFY20); Net Profit Up 392.5%

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DEEPAK NITRITE Announces Quarterly Results (1QFY20); Net Profit Up 392.5%
Mon, 5 Aug

DEEPAK NITRITE has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

DEEPAK NITRITE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,2104,8595,50413.3%30.7%
Other incomeRs m8193480.5%329.8%
TurnoverRs m4,2184,8785,53813.5%31.3%
ExpensesRs m3,6493,7713,656-3.0%0.2%
Gross profitRs m5611,0881,84769.8%229.4%
DepreciationRs m12613817628.0%39.4%
InterestRs m1099964-35.6%-41.4%
Profit before taxRs m3348701,64288.7%392.1%
TaxRs m11630556986.8%391.4%
Profit after taxRs m2185661,07389.6%392.5%
Gross profit margin%13.322.433.6
Effective tax rate%34.735.034.7
Net profit margin%5.211.619.4
* 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 30.7% on a year-on-year (YoY) basis. The expenses were up by 0.2% YoY during the same period.
  • The company's operating profit increased by 229.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.6% in 1QFY20 as against 13.3% in 1QFY19.
  • Depreciation charges increased by 39.4% and finance costs declined by 41.4% YoY, respectively.
  • Other income increased by 329.8% YoY during the quarter.
  • Net profit for the quarter increased by 392.5% YoY. Net profit margins during the quarter increased from 5.2% in 1QFY19 to 19.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.0% QoQ during the same period.
  • The company's operating profit increased by 69.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.6% in 1QFY20 as against 22.4% in 4QFY19.
  • Net profit for the quarter increased by 89.6% QoQ, while net profit margins increased from 11.6% in 4QFY19 to 19.4% in 1QFY20.

To see how DEEPAK NITRITE has performed over the last eight quarters,please visit here.

DEEPAK NITRITE Share Price Performance

Over the last one year,DEEPAK NITRITE share price has moved up from Rs 241.3 to Rs 280.0, registering a Gain of Rs 38.7 or around 16.0%.

Overall, the S&P BSE SENSEX is down 1.4% over the year.

Current Valuations

At the current price of Rs 280.0, the price to earnings (P/E) ratio of DEEPAK NITRITE stands at 17.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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