DEEPAK NITRITE Announces Quarterly Results (2QFY20); Net Profit Up 536.4%

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DEEPAK NITRITE Announces Quarterly Results (2QFY20); Net Profit Up 536.4%
Fri, 1 Nov

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

DEEPAK NITRITE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,3275,5045,6923.4%31.5%
Other incomeRs m33427-21.3%713.3%
TurnoverRs m4,3305,5385,7193.3%32.1%
ExpensesRs m3,6413,6563,560-2.6%-2.2%
Gross profitRs m6861,8472,13115.4%210.7%
DepreciationRs m13217619812.3%50.0%
InterestRs m1176450-21.6%-57.1%
Profit before taxRs m4411,6421,91116.4%333.6%
TaxRs m160569124-78.2%-22.3%
Profit after taxRs m2811,0731,78666.5%536.4%
Gross profit margin%15.933.637.4
Effective tax rate%36.334.76.5
Net profit margin%6.519.431.2
* 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 31.5% on a year-on-year (YoY) basis. The expenses were down by 2.2% YoY during the same period.
  • The company's operating profit increased by 210.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.4% in 2QFY20 as against 15.9% in 2QFY19.
  • Depreciation charges increased by 50.0% and finance costs declined by 57.1% YoY, respectively.
  • Other income increased by 713.3% YoY during the quarter.
  • Net profit for the quarter increased by 536.4% YoY. Net profit margins during the quarter increased from 6.5% in 2QFY19 to 31.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.6% QoQ during the same period.
  • The company's operating profit increased by 15.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.4% in 2QFY20 as against 33.6% in 1QFY19.
  • Net profit for the quarter increased by 66.5% QoQ, while net profit margins increased from 19.4% in 1QFY19 to 31.2% in 2QFY20.

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

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

DEEPAK NITRITE Share Price Performance

Over the last one year,DEEPAK NITRITE share price has moved up from Rs 253.0 to Rs 338.0, registering a Gain of Rs 85.0 or around 33.6%.

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 338.0, the price to earnings (P/E) ratio of DEEPAK NITRITE stands at 12.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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