KOLTE PATIL Announces Quarterly Results (4QFY19); Net Profit Down 45.1%

Thu, 6 Jun

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

KOLTE PATIL Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	4,777	723	1,954	170.5%	-59.1%
Other income	Rs m	71	43	25	-41.2%	-64.4%
Turnover	Rs m	4,848	766	1,980	158.6%	-59.2%
Expenses	Rs m	3,737	800	1,187	48.4%	-68.2%
Gross profit	Rs m	1,039	-77	768		-26.1%
Depreciation	Rs m	48	39	36	-7.0%	-25.3%
Interest	Rs m	268	207	318	53.9%	18.4%
Profit before tax	Rs m	794	-279	439		-44.7%
Tax	Rs m	181	-62	103		-43.3%
Profit after tax	Rs m	613	-217	337		-45.1%
Gross profit margin	%	21.8	-10.7	39.3
Effective tax rate	%	22.8	22.3	23.4
Net profit margin	%	12.6	-28.3	17.0

Year-on-Year Performance:

• The company's operating income during the quarter fell 59.1% on a year-on-year (YoY) basis. The expenses were down by 68.2% YoY during the same period.
• The company's operating profit declined by 26.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.3% in 4QFY19 as against 21.8% in 4QFY18.
• Depreciation charges declined by 25.3% and finance costs increased by 18.4% YoY, respectively.
• Other income declined by 64.4% YoY during the quarter.
• Net profit for the quarter declined by 45.1% YoY. Net profit margins during the quarter increased from 12.6% in 4QFY18 to 17.0% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 170.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 48.4% QoQ during the same period.
• The company's operating profit increased by 1095.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 39.3% in 4QFY19 as against 10.7% in 3QFY18.
• Net profit for the quarter increased by 255.2% QoQ, while net profit margins increased from -28.3% in 3QFY18 to 17.0% in 4QFY19.

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 288.5 to Rs 233.4, registering a Loss of Rs 55.2 or around 19.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,199.5 (down 0.7%). Over the last one year it has moved up from 2,147.9 to 2,199.5, a gain of 52 points (up 2.4%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 233.4, the price to earnings (P/E) ratio of KOLTE PATIL stands at 17.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.