ESCORTS LIMITED Announces Quarterly Results (2QFY21); Net Profit Up 124.9%

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ESCORTS LIMITED Announces Quarterly Results (2QFY21); Net Profit Up 124.9%
Fri, 6 Nov

ESCORTS LIMITED has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

ESCORTS LIMITED Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m13,33810,61616,39754.5%22.9%
Other incomeRs m21429837625.9%75.2%
TurnoverRs m13,55210,91516,77353.7%23.8%
ExpensesRs m12,0899,42013,38942.1%10.8%
Gross profitRs m1,1571,1963,009151.5%160.1%
DepreciationRs m2672642743.5%2.3%
InterestRs m41193266.3%-20.7%
Profit before taxRs m1,0631,2113,078154.2%189.5%
TaxRs m41289779169.4%1810.0%
Profit after taxRs m1,0229222,299149.5%124.9%
Gross profit margin%8.711.318.3
Effective tax rate%3.823.925.3
Net profit margin%7.58.413.7
* 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 22.9% on a year-on-year (YoY) basis. The expenses were up by 10.8% YoY during the same period.
  • The company's operating profit increased by 160.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.3% in 2QFY21 as against 8.7% in 2QFY20.
  • Depreciation charges increased by 2.3% and finance costs declined by 20.7% YoY, respectively.
  • Other income increased by 75.2% YoY during the quarter.
  • Net profit for the quarter increased by 124.9% YoY. Net profit margins during the quarter increased from 7.5% in 2QFY20 to 13.7% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 54.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 42.1% QoQ during the same period.
  • The company's operating profit increased by 151.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.3% in 2QFY21 as against 11.3% in 1QFY20.
  • Net profit for the quarter increased by 149.5% QoQ, while net profit margins increased from 8.4% in 1QFY20 to 13.7% in 2QFY21.

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

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ESCORTS LIMITED Share Price Performance

Over the last one year, ESCORTS LIMITED share price has moved up from Rs 654.6 to Rs 1,270.0, registering a Gain of Rs 615.4 or around 94.0%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,082.0 (up 0.1%). Over the last one year it has moved down from 18,509.2 to 18,082.0, a gain of 427 points (down 2.3%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 1,270.0, the price to earnings (P/E) ratio of ESCORTS LIMITED stands at 25.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.8 times.

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For the quarter ended December 2020, ESCORTS LIMITED has posted a net profit of Rs 3 bn (up 83.4% YoY). Sales on the other hand came in at Rs 20 bn (up 23.5% YoY). Read on for a complete analysis of ESCORTS LIMITED's quarterly results.

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