DEEPAK NITRITE Announces Quarterly Results (1QFY21); Net Profit Down 40.7%

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DEEPAK NITRITE Announces Quarterly Results (1QFY21); Net Profit Down 40.7%
Tue, 18 Aug

DEEPAK NITRITE has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

DEEPAK NITRITE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m5,5045,2523,504-33.3%-36.3%
Other incomeRs m34849539.5%41.7%
TurnoverRs m5,5385,2603,553-32.5%-35.8%
ExpensesRs m3,6563,4112,528-25.9%-30.9%
Gross profitRs m1,8471,842976-47.0%-47.2%
DepreciationRs m176207143-31.0%-18.9%
InterestRs m644529-36.6%-54.9%
Profit before taxRs m1,6421,597853-46.6%-48.0%
TaxRs m569435217-50.1%-61.9%
Profit after taxRs m1,0731,163636-45.3%-40.7%
Gross profit margin%33.635.127.9
Effective tax rate%34.727.225.4
Net profit margin%19.422.117.9
* 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 fell 36.3% on a year-on-year (YoY) basis. The expenses were down by 30.9% YoY during the same period.
  • The company's operating profit declined by 47.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.9% in 1QFY21 as against 33.6% in 1QFY20.
  • Depreciation charges declined by 18.9% and finance costs declined by 54.9% YoY, respectively.
  • Other income increased by 41.7% YoY during the quarter.
  • Net profit for the quarter declined by 40.7% YoY. Net profit margins during the quarter declined from 19.4% in 1QFY20 to 17.9% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 33.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 25.9% QoQ during the same period.
  • The company's operating profit declined by 47.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.9% in 1QFY21 as against 35.1% in 4QFY20.
  • Net profit for the quarter declined by 45.3% QoQ, while net profit margins declined from 22.1% in 4QFY20 to 17.9% in 1QFY21.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

DEEPAK NITRITE Share Price Performance

Over the last one year,DEEPAK NITRITE share price has moved up from Rs 271.0 to Rs 604.0, registering a Gain of Rs 333.0 or around 122.9%.

Overall, the S&P BSE SENSEX is up 2.3% over the year.

Current Valuations

At the current price of Rs 604.0, the price to earnings (P/E) ratio of DEEPAK NITRITE stands at 16.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.7 times.

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DEEPAK NITRITE Announces Quarterly Results (4QFY20); Net Profit Up 105.5% (Quarterly Result Update)

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For the quarter ended March 2020, DEEPAK NITRITE has posted a net profit of Rs 1 bn (up 105.5% YoY). Sales on the other hand came in at Rs 5 bn (up 8.1% YoY). Read on for a complete analysis of DEEPAK NITRITE's quarterly results.

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