ITC LTD Announces Quarterly Results (3QFY19); Net Profit Up 3.8%

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ITC LTD Announces Quarterly Results (3QFY19); Net Profit Up 3.8%
Thu, 24 Jan

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

ITC LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m99,522112,725114,3131.4%14.9%
Other incomeRs m6,2695,0418,36465.9%33.4%
TurnoverRs m105,791117,766122,6774.2%16.0%
ExpensesRs m60,47770,66571,0550.6%17.5%
Gross profitRs m43,17442,06043,2582.8%0.2%
DepreciationRs m2,9083,2753,3542.4%15.3%
InterestRs m24013556-58.4%-76.6%
Profit before taxRs m46,29643,69148,21210.3%4.1%
TaxRs m15,39414,14516,12114.0%4.7%
Profit after taxRs m30,90229,54732,0918.6%3.8%
Gross profit margin%43.437.337.8
Effective tax rate%33.332.433.4
Net profit margin%29.225.126.2
* 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 14.9% on a year-on-year (YoY) basis. The expenses were up by 17.5% YoY during the same period.
  • The company's operating profit increased by 0.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 37.8% in 3QFY19 as against 43.4% in 3QFY18.
  • Depreciation charges increased by 15.3% and finance costs declined by 76.6% YoY, respectively.
  • Other income increased by 33.4% YoY during the quarter.
  • Net profit for the quarter increased by 3.8% YoY. Net profit margins during the quarter declined from 29.2% in 3QFY18 to 26.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.6% QoQ during the same period.
  • The company's operating profit increased by 2.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 37.8% in 3QFY19 as against 37.3% in 2QFY18.
  • Net profit for the quarter increased by 8.6% QoQ, while net profit margins increased from 25.1% in 2QFY18 to 26.2% in 3QFY19.

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 281.5 to Rs 280.6, registering a Loss of Rs 1.0 or around 0.3%.

Overall, the S&P BSE SENSEX is up 0.0% over the year.

Current Valuations

At the current price of Rs 280.6, 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 6.5 times.

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