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KITEX GARMENTS Announces Quarterly Results (2QFY19); Net Profit Up 8.4%

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KITEX GARMENTS Announces Quarterly Results (2QFY19); Net Profit Up 8.4%
Mon, 12 Nov

KITEX GARMENTS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

KITEX GARMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,4861,2281,67936.6%13.0%
Other incomeRs m289413340.7%376.4%
TurnoverRs m1,5141,3231,81136.9%19.6%
ExpensesRs m1,0569521,32038.7%25.0%
Gross profitRs m43027635829.6%-16.7%
DepreciationRs m5766683.0%18.7%
InterestRs m2038184.2%-60.6%
Profit before taxRs m38030241537.4%9.0%
TaxRs m13911615332.0%10.0%
Profit after taxRs m24118626240.9%8.4%
Gross profit margin%28.922.521.3
Effective tax rate%36.638.436.9
Net profit margin%15.914.014.4
* 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 13.0% on a year-on-year (YoY) basis. The expenses were up by 25.0% YoY during the same period.
  • The company's operating profit declined by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.3% in 2QFY19 as against 28.9% in 2QFY18.
  • Depreciation charges increased by 18.7% and finance costs declined by 60.6% YoY, respectively.
  • Other income increased by 376.4% YoY during the quarter.
  • Net profit for the quarter increased by 8.4% YoY. Net profit margins during the quarter declined from 15.9% in 2QFY18 to 14.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 36.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 38.7% QoQ during the same period.
  • The company's operating profit declined by 29.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.3% in 2QFY19 as against 22.5% in 1QFY18.
  • Net profit for the quarter increased by 40.9% QoQ, while net profit margins increased from 14.1% in 1QFY18 to 14.4% in 2QFY19.

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 up from Rs 302.5 to Rs 114.0, registering a Loss of Rs 188.5 or around 62.3%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 114.0, the price to earnings (P/E) ratio of KITEX GARMENTS stands at 10.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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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.

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