ICRA LTD Announces Quarterly Results (2QFY20); Net Profit Down 27.5%

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ICRA LTD Announces Quarterly Results (2QFY20); Net Profit Down 27.5%
Wed, 6 Nov

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

ICRA LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m8117707760.8%-4.2%
Other incomeRs m1191171214.2%1.9%
TurnoverRs m9308878981.2%-3.5%
ExpensesRs m5395435939.1%9.9%
Gross profitRs m271227183-19.3%-32.4%
DepreciationRs m14232718.3%99.7%
InterestRs m066-11.3%6244.4%
Profit before taxRs m377315272-13.5%-27.8%
TaxRs m11111179-28.9%-28.6%
Profit after taxRs m266204193-5.1%-27.5%
Gross profit margin%33.529.523.6
Effective tax rate%29.335.329.0
Net profit margin%28.722.921.5
* 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 fell 4.2% on a year-on-year (YoY) basis. The expenses were up by 9.9% YoY during the same period.
  • The company's operating profit declined by 32.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.6% in 2QFY20 as against 33.5% in 2QFY19.
  • Depreciation charges increased by 99.7% and finance costs increased by 6244.4% YoY, respectively.
  • Other income increased by 1.9% YoY during the quarter.
  • Net profit for the quarter declined by 27.5% YoY. Net profit margins during the quarter declined from 28.7% in 2QFY19 to 21.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.1% QoQ during the same period.
  • The company's operating profit declined by 19.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.6% in 2QFY20 as against 29.5% in 1QFY19.
  • Net profit for the quarter declined by 5.1% QoQ, while net profit margins declined from 23.0% in 1QFY19 to 21.5% in 2QFY20.

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

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

ICRA LTD Share Price Performance

Over the last one year,ICRA LTD share price has moved down from Rs 3,250.0 to Rs 2,800.0, registering a Loss of Rs 450.0 or around 13.8%.

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 2,800.0, the price to earnings (P/E) ratio of ICRA LTD stands at 29.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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