ITC Announces Quarterly Results (1QFY20); Net Profit Up 12.6%

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ITC Announces Quarterly Results (1QFY20); Net Profit Up 12.6%
Mon, 5 Aug

ITC has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

ITC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m108,746122,060115,028-5.8%5.8%
Other incomeRs m4,0397,4026,202-16.2%53.6%
TurnoverRs m112,784129,462121,230-6.4%7.5%
ExpensesRs m66,72576,34469,371-9.1%4.0%
Gross profitRs m42,02145,71745,657-0.1%8.7%
DepreciationRs m2,9873,5023,5892.5%20.2%
InterestRs m737715296.6%107.4%
Profit before taxRs m42,99949,53948,117-2.9%11.9%
TaxRs m14,81314,72016,37811.3%10.6%
Profit after taxRs m28,18734,81931,739-8.8%12.6%
Gross profit margin%38.637.539.7
Effective tax rate%34.429.734.0
Net profit margin%25.026.926.2
* 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 5.8% on a year-on-year (YoY) basis. The expenses were up by 4.0% YoY during the same period.
  • The company's operating profit increased by 8.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.7% in 1QFY20 as against 38.6% in 1QFY19.
  • Depreciation charges increased by 20.2% and finance costs increased by 107.4% YoY, respectively.
  • Other income increased by 53.6% YoY during the quarter.
  • Net profit for the quarter increased by 12.6% YoY. Net profit margins during the quarter increased from 25.0% in 1QFY19 to 26.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.1% QoQ during the same period.
  • The company's operating profit increased by 0.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.7% in 1QFY20 as against 37.5% in 4QFY19.
  • Net profit for the quarter declined by 8.8% QoQ, while net profit margins declined from 26.9% in 4QFY19 to 26.2% in 1QFY20.

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

ITC Share Price Performance

Over the last one year,ITC share price has moved down from Rs 303.8 to Rs 258.6, registering a Loss of Rs 45.2 or around 14.9%.

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 258.6, the price to earnings (P/E) ratio of ITC stands at 24.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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