KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8%

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

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 ChangeYoY Change
Net SalesRs m1,2281,8001,456-19.1%18.5%
Other incomeRs m941711-34.3%-88.5%
TurnoverRs m1,3231,8161,466-19.3%10.9%
ExpensesRs m9521,3601,154-15.1%21.3%
Gross profitRs m276440301-31.5%8.9%
DepreciationRs m666968-2.5%2.2%
InterestRs m31412-18.6%318.6%
Profit before taxRs m302373233-37.6%-22.8%
TaxRs m11612987-32.2%-24.6%
Profit after taxRs m186244145-40.4%-21.8%
Gross profit margin%22.524.420.7
Effective tax rate%38.434.637.6
Net profit margin%14.013.49.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


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.

Equitymaster requests your view! Post a comment on "KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8%". Click here!

  

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, 2019

For 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, 2019

For 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 News

Most Popular

My 3 Best Small-cap Stocks to Get Rich in this Market Rebound(Profit Hunter)

Oct 14, 2019

This 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, 2019

Here'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, 2019

How 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, 2019

There 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, 2019

Now is the time to put money in these 5 stocks to take advantage of the recovery in the economy and the markets.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

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

MARKET STATS