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ITC LTD Announces Quarterly Results (2QFY19); Net Profit Up 11.9%

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ITC LTD Announces Quarterly Results (2QFY19); Net Profit Up 11.9%
Fri, 9 Nov

ITC LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ITC LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m97,639108,746112,7253.7%15.5%
Other incomeRs m4,9424,0395,04124.8%2.0%
TurnoverRs m102,581112,784117,7664.4%14.8%
ExpensesRs m60,02466,72570,6655.9%17.7%
Gross profitRs m37,61542,02142,0600.1%11.8%
DepreciationRs m2,8242,9873,2759.6%16.0%
InterestRs m2907313583.9%-53.5%
Profit before taxRs m39,44342,99943,6911.6%10.8%
TaxRs m13,04514,81314,145-4.5%8.4%
Profit after taxRs m26,39828,18729,5474.8%11.9%
Gross profit margin%38.538.637.3
Effective tax rate%33.134.432.4
Net profit margin%25.725.025.1
* 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 15.5% on a year-on-year (YoY) basis. The expenses were up by 17.7% YoY during the same period.
  • The company's operating profit increased by 11.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.3% in 2QFY19 as against 38.5% in 2QFY18.
  • Depreciation charges increased by 16.0% and finance costs declined by 53.5% YoY, respectively.
  • Other income increased by 2.0% YoY during the quarter.
  • Net profit for the quarter increased by 11.9% YoY. Net profit margins during the quarter declined from 25.7% in 2QFY18 to 25.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.9% QoQ during the same period.
  • The company's operating profit declined by 0.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.3% in 2QFY19 as against 38.6% in 1QFY18.
  • Net profit for the quarter increased by 4.8% QoQ, while net profit margins increased from 25.0% in 1QFY18 to 25.1% in 2QFY19.

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

ITC LTD Share Price Performance

Over the last one year, ITC LTD share price has moved up from Rs 260.1 to Rs 277.4, registering a Gain of Rs 17.3 or around 6.7%.

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 277.4, the price to earnings (P/E) ratio of ITC LTD stands at 28.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.4 times.

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