ESCORTS LIMITED Announces Quarterly Results (3QFY21); Net Profit Up 83.4%

Fri, 5 Feb

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

ESCORTS LIMITED Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	16,334	16,397	20,174	23.0%	23.5%
Other income	Rs m	267	376	472	25.7%	76.7%
Turnover	Rs m	16,602	16,773	20,647	23.1%	24.4%
Expenses	Rs m	14,212	13,389	16,534	23.5%	16.3%
Gross profit	Rs m	2,123	3,009	3,641	21.0%	71.5%
Depreciation	Rs m	267	274	315	15.0%	18.0%
Interest	Rs m	29	32	33	1.9%	12.4%
Profit before tax	Rs m	2,094	3,078	3,765	22.3%	79.8%
Tax	Rs m	564	779	959	23.0%	70.1%
Profit after tax	Rs m	1,531	2,299	2,807	22.1%	83.4%
Gross profit margin	%	13.0	18.3	18.0
Effective tax rate	%	26.9	25.3	25.5
Net profit margin	%	9.2	13.7	13.6

Year-on-Year Performance:

• The company's operating income during the quarter grew 23.5% on a year-on-year (YoY) basis. The expenses were up by 16.3% YoY during the same period.
• The company's operating profit increased by 71.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.0% in 3QFY21 as against 13.0% in 3QFY20.
• Depreciation charges increased by 18.0% and finance costs increased by 12.4% YoY, respectively.
• Other income increased by 76.7% YoY during the quarter.
• Net profit for the quarter increased by 83.4% YoY. Net profit margins during the quarter increased from 9.2% in 3QFY20 to 13.6% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 23.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.5% QoQ during the same period.
• The company's operating profit increased by 21.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.0% in 3QFY21 as against 18.3% in 2QFY20.
• Net profit for the quarter increased by 22.1% QoQ, while net profit margins declined from 13.7% in 2QFY20 to 13.6% in 3QFY21.

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 855.0 to Rs 1,404.0, registering a Gain of Rs 549.0 or around 64.2%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 24,293.6 (down 1.0%). Over the last one year it has moved up from 18,249.6 to 24,293.6, a gain of 6,044 points (up 33.1%).

Overall, the S&P BSE SENSEX is up 27.4% over the year.

Current Valuations

At the current price of Rs 1,404.0, the price to earnings (P/E) ratio of ESCORTS LIMITED stands at 23.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.4 times.