KOLTE PATIL Announces Quarterly Results (1QFY20); Net Profit Up 71.5%

Wed, 7 Aug

KOLTE PATIL has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

KOLTE PATIL Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	3,806	1,954	5,857	199.7%	53.9%
Other income	Rs m	19	25	302	1089.0%	1523.7%
Turnover	Rs m	3,824	1,980	6,159	211.1%	61.0%
Expenses	Rs m	2,550	1,187	3,906	229.1%	53.2%
Gross profit	Rs m	1,356	768	1,951	154.1%	43.9%
Depreciation	Rs m	37	36	47	30.3%	27.4%
Interest	Rs m	203	318	232	-27.1%	14.5%
Profit before tax	Rs m	1,135	439	1,974	349.5%	73.9%
Tax	Rs m	372	103	666	549.4%	79.0%
Profit after tax	Rs m	763	337	1,308	288.6%	71.5%
Gross profit margin	%	35.6	39.3	33.3
Effective tax rate	%	32.8	23.4	33.8
Net profit margin	%	19.9	17.0	21.2

Year-on-Year Performance:

• The company's operating income during the quarter grew 53.9% on a year-on-year (YoY) basis. The expenses were up by 53.2% YoY during the same period.
• The company's operating profit increased by 43.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.3% in 1QFY20 as against 35.6% in 1QFY19.
• Depreciation charges increased by 27.4% and finance costs increased by 14.5% YoY, respectively.
• Other income increased by 1523.7% YoY during the quarter.
• Net profit for the quarter increased by 71.5% YoY. Net profit margins during the quarter increased from 19.9% in 1QFY19 to 21.2% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 199.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 229.1% QoQ during the same period.
• The company's operating profit declined by 154.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.3% in 1QFY20 as against 39.3% in 4QFY19.
• Net profit for the quarter increased by 288.6% QoQ, while net profit margins increased from 17.0% in 4QFY19 to 21.2% in 1QFY20.

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

KOLTE PATIL Share Price Performance

Over the last one year,KOLTE PATIL share price has moved down from Rs 285.6 to Rs 231.3, registering a Loss of Rs 54.3 or around 19.0%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,036.8 (up 0.6%). Over the last one year it has moved down from 2,059.4 to 2,036.8, a gain of 23 points (down 1.1%).

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 231.3, the price to earnings (P/E) ratio of KOLTE PATIL stands at 11.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.