KOLTE PATIL Announces Quarterly Results (3QFY19); Net Profit Down 159.0%

Thu, 31 Jan

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

KOLTE PATIL Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	2,883	2,110	723	-65.8%	-74.9%
Other income	Rs m	41	24	43	83.8%	6.4%
Turnover	Rs m	2,923	2,134	766	-64.1%	-73.8%
Expenses	Rs m	2,198	1,686	800	-52.6%	-63.6%
Gross profit	Rs m	685	425	-77	-118.1%	-111.3%
Depreciation	Rs m	33	38	39	2.1%	16.6%
Interest	Rs m	238	193	207	7.2%	-13.2%
Profit before tax	Rs m	455	218	-279	-228.3%	-161.4%
Tax	Rs m	87	106	-62	-159.0%	-171.8%
Profit after tax	Rs m	368	112	-217	-293.7%	-159.0%
Gross profit margin	%	23.8	20.1	-10.7
Effective tax rate	%	19.1	48.6	22.3
Net profit margin	%	12.6	5.2	-28.3

Year-on-Year Performance:

• The company's operating income during the quarter fell 74.9% on a year-on-year (YoY) basis. The expenses were down by 63.6% YoY during the same period.
• The company's operating profit declined by 111.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.7% in 3QFY19 as against 23.8% in 3QFY18.
• Depreciation charges increased by 16.6% and finance costs declined by 13.2% YoY, respectively.
• Other income increased by 6.4% YoY during the quarter.
• Net profit for the quarter declined by 159.0% YoY. Net profit margins during the quarter declined from 12.6% in 3QFY18 to -28.3% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 65.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 52.6% QoQ during the same period.
• The company's operating profit declined by 118.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.7% in 3QFY19 as against 20.1% in 2QFY18.
• Net profit for the quarter declined by 293.7% QoQ, while net profit margins declined from 5.2% in 2QFY18 to -28.3% in 3QFY19.

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 up from Rs 363.5 to Rs 263.6, registering a Loss of Rs 100.0 or around 27.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,783.9 (up 1.1%). Over the last one year it has moved down from 2,609.1 to 1,783.9, a gain of 825 points (down 31.6%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 263.6, the price to earnings (P/E) ratio of KOLTE PATIL stands at 15.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.