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- 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 (3QFY20); Net Profit Up 196.0% (Quarterly Result Update)
Feb 12, 2020 | Updated on Feb 12, 2020For the quarter ended December 2019, KITEX GARMENTS has posted a net profit of Rs 366 m (up 196.0% YoY). Sales on the other hand came in at Rs 3 bn (up 84.3% YoY). Read on for a complete analysis of KITEX GARMENTS's quarterly results.
KITEX GARMENTS Announces Quarterly Results (2QFY20); Net Profit Up 46.6% (Quarterly Result Update)
Nov 15, 2019 | Updated on Nov 15, 2019For the quarter ended September 2019, KITEX GARMENTS has posted a net profit of Rs 384 m (up 46.6% YoY). Sales on the other hand came in at Rs 2 bn (up 17.0% YoY). Read on for a complete analysis of KITEX GARMENTS's quarterly results.
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