KITEX GARMENTS Announces Quarterly Results (2QFY20); Net Profit Up 46.6%

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KITEX GARMENTS Announces Quarterly Results (2QFY20); Net Profit Up 46.6%
Fri, 15 Nov

KITEX GARMENTS has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

KITEX GARMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m1,6791,4561,96535.0%17.0%
Other incomeRs m133111271073.0%-3.9%
TurnoverRs m1,8111,4662,09242.7%15.5%
ExpensesRs m1,3201,1541,57536.4%19.3%
Gross profitRs m35830139029.5%8.9%
DepreciationRs m686866-1.8%-2.6%
InterestRs m8121417.2%72.6%
Profit before taxRs m41523343787.9%5.4%
TaxRs m1538754-38.7%-65.0%
Profit after taxRs m262145384164.1%46.6%
Gross profit margin%21.320.719.8
Effective tax rate%36.937.612.3
Net profit margin%14.49.918.3
* 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 17.0% on a year-on-year (YoY) basis. The expenses were up by 19.3% 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 19.8% in 2QFY20 as against 21.3% in 2QFY19.
  • Depreciation charges declined by 2.6% and finance costs increased by 72.6% YoY, respectively.
  • Other income declined by 3.9% YoY during the quarter.
  • Net profit for the quarter increased by 46.6% YoY. Net profit margins during the quarter increased from 14.4% in 2QFY19 to 18.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 35.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.4% QoQ during the same period.
  • The company's operating profit increased by 29.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.8% in 2QFY20 as against 20.7% in 1QFY19.
  • Net profit for the quarter increased by 164.1% QoQ, while net profit margins increased from 9.9% in 1QFY19 to 18.3% in 2QFY20.

To see how KITEX GARMENTS has performed over the last eight quarters,please visit here.

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KITEX GARMENTS Share Price Performance

Over the last one year,KITEX GARMENTS share price has moved down from Rs 111.1 to Rs 104.5, registering a Loss of Rs 6.6 or around 5.9%.

Overall, the S&P BSE SENSEX is up 15.3% over the year.

Current Valuations

At the current price of Rs 104.5, the price to earnings (P/E) ratio of KITEX GARMENTS stands at 7.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.

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KITEX GARMENTS Announces Quarterly Results (3QFY20); Net Profit Up 196.0% (Quarterly Result Update)

Feb 12, 2020 | Updated on Feb 12, 2020

For 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 (1QFY20); Net Profit Down 21.8% (Quarterly Result Update)

Aug 21, 2019 | Updated on Aug 21, 2019

For the quarter ended June 2019, KITEX GARMENTS has posted a net profit of Rs 145 m (down 21.8% YoY). Sales on the other hand came in at Rs 1 bn (up 18.5% YoY). Read on for a complete analysis of KITEX GARMENTS's quarterly results.

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