ITC Announces Quarterly Results (4QFY19); Net Profit Up 18.7%

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ITC Announces Quarterly Results (4QFY19); Net Profit Up 18.7%
Tue, 14 May

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

ITC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m108,132114,313122,0606.8%12.9%
Other incomeRs m5,1658,3647,402-11.5%43.3%
TurnoverRs m113,297122,677129,4625.5%14.3%
ExpensesRs m66,69271,05576,3447.4%14.5%
Gross profitRs m41,44043,25845,7175.7%10.3%
DepreciationRs m3,0403,3543,5024.4%15.2%
InterestRs m232567738.0%-66.7%
Profit before taxRs m43,33348,21249,5392.8%14.3%
TaxRs m14,00616,12114,720-8.7%5.1%
Profit after taxRs m29,32732,09134,8198.5%18.7%
Gross profit margin%38.337.837.5
Effective tax rate%32.333.429.7
Net profit margin%25.926.226.9
* 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 12.9% on a year-on-year (YoY) basis. The expenses were up by 14.5% YoY during the same period.
  • The company's operating profit increased by 10.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.5% in 4QFY19 as against 38.3% in 4QFY18.
  • Depreciation charges increased by 15.2% and finance costs declined by 66.7% YoY, respectively.
  • Other income increased by 43.3% YoY during the quarter.
  • Net profit for the quarter increased by 18.7% YoY. Net profit margins during the quarter increased from 25.9% in 4QFY18 to 26.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.4% QoQ during the same period.
  • The company's operating profit declined by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.5% in 4QFY19 as against 37.8% in 3QFY18.
  • Net profit for the quarter increased by 8.5% QoQ, while net profit margins increased from 26.2% in 3QFY18 to 26.9% in 4QFY19.

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 up from Rs 284.5 to Rs 289.3, registering a Gain of Rs 4.9 or around 1.7%.

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 289.3, the price to earnings (P/E) ratio of ITC stands at 28.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.7 times.

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