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.

REVEALED: How to Potentially Increase Your Monthly Income Without Working 24x7

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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