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EROS INTERNATIONAL Announces Quarterly Results (3QFY19); Net Profit Down 7.4%

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EROS INTERNATIONAL Announces Quarterly Results (3QFY19); Net Profit Down 7.4%
Tue, 12 Feb

EROS INTERNATIONAL has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

EROS INTERNATIONAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,9352,9292,9591.0%52.9%
Other incomeRs m11527736531.7%218.1%
TurnoverRs m2,0503,2063,3243.7%62.2%
ExpensesRs m1,0192,1132,36812.1%132.4%
Gross profitRs m916816591-27.5%-35.5%
DepreciationRs m2725276.8%0.8%
InterestRs m183176160-9.1%-13.0%
Profit before taxRs m821892770-13.7%-6.3%
TaxRs m15011914824.2%-1.2%
Profit after taxRs m672773622-19.6%-7.4%
Gross profit margin%47.427.920.0
Effective tax rate%18.213.319.2
Net profit margin%32.824.118.7
* 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 52.9% on a year-on-year (YoY) basis. The expenses were up by 132.4% YoY during the same period.
  • The company's operating profit declined by 35.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.0% in 3QFY19 as against 47.4% in 3QFY18.
  • Depreciation charges increased by 0.8% and finance costs declined by 13.0% YoY, respectively.
  • Other income increased by 218.1% YoY during the quarter.
  • Net profit for the quarter declined by 7.4% YoY. Net profit margins during the quarter declined from 32.8% in 3QFY18 to 18.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.1% QoQ during the same period.
  • The company's operating profit declined by 27.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.0% in 3QFY19 as against 27.9% in 2QFY18.
  • Net profit for the quarter declined by 19.6% QoQ, while net profit margins declined from 24.1% in 2QFY18 to 18.7% in 3QFY19.

To see how EROS INTERNATIONAL has performed over the last eight quarters, please visit here.

EROS INTERNATIONAL Share Price Performance

Over the last one year, EROS INTERNATIONAL share price has moved up from Rs 202.8 to Rs 70.4, registering a Loss of Rs 132.4 or around 65.3%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,608.0 (down 1.6%). Over the last one year it has moved up from 6,552.7 to 7,608.0, a gain of 1,055 points (up 16.1%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 70.4, the price to earnings (P/E) ratio of EROS INTERNATIONAL stands at 2.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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