ITC Announces Quarterly Results (4QFY20); Net Profit Up 9.1%

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ITC Announces Quarterly Results (4QFY20); Net Profit Up 9.1%
Mon, 29 Jun

ITC has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

ITC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m122,060120,130114,200-4.9%-6.4%
Other incomeRs m7,4029,8367,555-23.2%2.1%
TurnoverRs m129,462129,966121,756-6.3%-6.0%
ExpensesRs m76,34474,00372,565-1.9%-4.9%
Gross profitRs m45,71744,80641,635-7.1%-8.9%
DepreciationRs m3,5024,1623,925-5.7%12.1%
InterestRs m7712414718.4%90.3%
Profit before taxRs m49,53950,35545,118-10.4%-8.9%
TaxRs m14,7208,9367,148-20.0%-51.4%
Profit after taxRs m34,81941,41937,971-8.3%9.1%
Gross profit margin%37.537.336.5
Effective tax rate%29.717.715.8
Net profit margin%26.931.931.2
* 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 fell 6.4% on a year-on-year (YoY) basis. The expenses were down by 4.9% YoY during the same period.
  • The company's operating profit declined by 8.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.5% in 4QFY20 as against 37.5% in 4QFY19.
  • Depreciation charges increased by 12.1% and finance costs increased by 90.3% YoY, respectively.
  • Other income increased by 2.1% YoY during the quarter.
  • Net profit for the quarter increased by 9.1% YoY. Net profit margins during the quarter increased from 26.9% in 4QFY19 to 31.2% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.9% QoQ during the same period.
  • The company's operating profit declined by 7.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 36.5% in 4QFY20 as against 37.3% in 3QFY19.
  • Net profit for the quarter declined by 8.3% QoQ, while net profit margins declined from 31.9% in 3QFY19 to 31.2% in 4QFY20.

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

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ITC Share Price Performance

Over the last one year,ITC share price has moved down from Rs 274.0 to Rs 198.4, registering a Loss of Rs 75.6 or around 27.6%.

Overall, the S&P BSE SENSEX is down 12.4% over the year.

Current Valuations

At the current price of Rs 198.4, the price to earnings (P/E) ratio of ITC stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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