MEMBER'S LOGINX
| Login Failure | ||||||||
|
||||||||
| Sign Up | Forgot Password? | ||||||||
- Home
- Research It
- KITEX GARMENTS
- KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8%
KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8%
Wed, 21 Aug
KITEX GARMENTS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:
KITEX GARMENTS Quarterly Financials
| No. of Mths Qtr. Ending | 3 Jun-18* | 3 Mar-19* | 3 Jun-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 1,228 | 1,800 | 1,456 | -19.1% | 18.5% |
| Other income | Rs m | 94 | 17 | 11 | -34.3% | -88.5% |
| Turnover | Rs m | 1,323 | 1,816 | 1,466 | -19.3% | 10.9% |
| Expenses | Rs m | 952 | 1,360 | 1,154 | -15.1% | 21.3% |
| Gross profit | Rs m | 276 | 440 | 301 | -31.5% | 8.9% |
| Depreciation | Rs m | 66 | 69 | 68 | -2.5% | 2.2% |
| Interest | Rs m | 3 | 14 | 12 | -18.6% | 318.6% |
| Profit before tax | Rs m | 302 | 373 | 233 | -37.6% | -22.8% |
| Tax | Rs m | 116 | 129 | 87 | -32.2% | -24.6% |
| Profit after tax | Rs m | 186 | 244 | 145 | -40.4% | -21.8% |
| Gross profit margin | % | 22.5 | 24.4 | 20.7 | ||
| Effective tax rate | % | 38.4 | 34.6 | 37.6 | ||
| Net profit margin | % | 14.0 | 13.4 | 9.9 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 18.5% on a year-on-year (YoY) basis. The expenses were up by 21.3% YoY during the same period.
- The company's operating profit increased by 8.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.7% in 1QFY20 as against 22.5% in 1QFY19.
- Depreciation charges increased by 2.2% and finance costs increased by 318.6% YoY, respectively.
- Other income declined by 88.5% YoY during the quarter.
- Net profit for the quarter declined by 21.8% YoY. Net profit margins during the quarter declined from 14.0% in 1QFY19 to 9.9% in 1QFY20.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter fell 19.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.1% QoQ during the same period.
- The company's operating profit declined by 31.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.7% in 1QFY20 as against 24.4% in 4QFY19.
- Net profit for the quarter declined by 40.4% QoQ, while net profit margins declined from 13.4% in 4QFY19 to 9.9% in 1QFY20.
To see how KITEX GARMENTS has performed over the last eight quarters,please visit here.
KITEX GARMENTS Share Price Performance
Over the last one year,KITEX GARMENTS share price has moved down from Rs 122.6 to Rs 76.1, registering a Loss of Rs 46.5 or around 37.9%.
Overall, the S&P BSE SENSEX is down 2.5% over the year.
Current Valuations
At the current price of Rs 76.1, the price to earnings (P/E) ratio of KITEX GARMENTS stands at 6.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.
|
| |
Related Views on News
KITEX GARMENTS Announces Quarterly Results (4QFY19); Net Profit Up 136.0% (Quarterly Result Update)
May 21, 2019 | Updated on May 21, 2019For the quarter ended March 2019, KITEX GARMENTS has posted a net profit of Rs 244 m (up 136.0% YoY). Sales on the other hand came in at Rs 2 bn (up 37.2% YoY). Read on for a complete analysis of KITEX GARMENTS's quarterly results.
KITEX GARMENTS Announces Quarterly Results (3QFY19); Net Profit Down 29.9% (Quarterly Result Update)
Feb 22, 2019 | Updated on Feb 22, 2019For the quarter ended December 2018, KITEX GARMENTS has posted a net profit of Rs 124 m (down 29.9% YoY). Sales on the other hand came in at Rs 1 bn (down 7.6% YoY). Read on for a complete analysis of KITEX GARMENTS's quarterly results.
More Views on NewsMost Popular
My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)
Oct 14, 2019This is once in a decade opportunity to make a killing from smallcap rebound.
Finally, Is the Share Price of Yes Bank Ready for a Rebound?(The 5 Minute Wrapup)
Oct 7, 2019Here's what every individual investor must know about Yes Bank...
What if Indiabulls Housing Finance and Yes Bank Do Not Rebound?(Profit Hunter)
Oct 1, 2019How long should you wait for fallen blue chips like Yes Bank and Indiabulls Housing Finance to rebound?
The One Stock I Like in this Market(The 5 Minute Wrapup)
Oct 10, 2019There are rare periods in markets when you get good quality stocks at attractive valuations. Is this one such period?
5 Smart Money Stocks to Profit from the Market Rebound(The 5 Minute Wrapup)
Oct 11, 2019Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.
More|
| |
KITEX GARMENTS SHARE PRICE
Oct 14, 2019 (Close)
TRACK KITEX GARMENTS
- Track your investment in KITEX GARMENTS with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
- Add To MyStocks
MORE ON KITEX GARMENTS
KITEX GARMENTS - CCL INTERNATIONAL COMPARISON
COMPARE KITEX GARMENTS WITH
OTHER USEFUL LINKS
MARKET STATS
ABOUT EQUITYMASTER
Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.
FREE NEWSLETTERS
PREMIUM PRODUCTS
QUICK LINKS
APPS
FOLLOW
Copyright © Equitymaster Agora Research Private Limited.
Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap
Equitymaster Agora Research Private Limited (Research Analyst) 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: info@equitymaster.com. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407
All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.
LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
Equitymaster requests your view! Post a comment on "KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8%". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!