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ESCORTS Announces Quarterly Results (3QFY19); Net Profit Up 52.3%

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ESCORTS Announces Quarterly Results (3QFY19); Net Profit Up 52.3%
Wed, 30 Jan

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

ESCORTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m12,05013,98416,55118.4%37.3%
Other incomeRs m8222124410.4%197.7%
TurnoverRs m12,13214,20516,79518.2%38.4%
ExpensesRs m10,60012,40914,54617.2%37.2%
Gross profitRs m1,4511,5752,11434.2%45.6%
DepreciationRs m1792152150.2%19.9%
InterestRs m59394310.8%-27.8%
Profit before taxRs m1,2951,5432,10036.1%62.2%
TaxRs m37551669935.4%86.4%
Profit after taxRs m9201,0261,40136.5%52.3%
Gross profit margin%12.011.312.8
Effective tax rate%29.033.533.3
Net profit margin%7.67.28.3
* 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 37.3% on a year-on-year (YoY) basis. The expenses were up by 37.2% YoY during the same period.
  • The company's operating profit increased by 45.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.8% in 3QFY19 as against 12.0% in 3QFY18.
  • Depreciation charges increased by 19.9% and finance costs declined by 27.8% YoY, respectively.
  • Other income increased by 197.7% YoY during the quarter.
  • Net profit for the quarter increased by 52.3% YoY. Net profit margins during the quarter increased from 7.6% in 3QFY18 to 8.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 18.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 17.2% QoQ during the same period.
  • The company's operating profit increased by 34.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.8% in 3QFY19 as against 11.3% in 2QFY18.
  • Net profit for the quarter increased by 36.5% QoQ, while net profit margins increased from 7.2% in 2QFY18 to 8.3% in 3QFY19.

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

ESCORTS Share Price Performance

Over the last one year, ESCORTS share price has moved up from Rs 833.2 to Rs 658.4, registering a Loss of Rs 174.8 or around 21.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,291.5 (down 0.0%). Over the last one year it has moved down from 25,956.9 to 18,291.5, a gain of 7,665 points (down 29.5%).

Overall, the S&P BSE SENSEX is down 1.7% over the year.

Current Valuations

At the current price of Rs 658.4, the price to earnings (P/E) ratio of ESCORTS stands at 17.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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For the quarter ended March 2019, ESCORTS has posted a net profit of Rs 1 bn (up 7.8% YoY). Sales on the other hand came in at Rs 16 bn (up 13.6% YoY). Read on for a complete analysis of ESCORTS's quarterly results.

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Here's an analysis of the annual report of ESCORTS for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of ESCORTS. Also includes updates on the valuation of ESCORTS.

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