KITEX GARMENTS Announces Quarterly Results (3QFY19); Net Profit Down 29.9%

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KITEX GARMENTS Announces Quarterly Results (3QFY19); Net Profit Down 29.9%
Fri, 22 Feb

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

KITEX GARMENTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,4731,6791,361-18.9%-7.6%
Other incomeRs m-1413341-69.1%
TurnoverRs m1,4591,8111,402-22.6%-3.9%
ExpensesRs m1,1061,3201,106-16.2%0.0%
Gross profitRs m367358255-28.8%-30.6%
DepreciationRs m5868691.5%19.7%
InterestRs m1681473.1%-15.1%
Profit before taxRs m279415213-48.6%-23.6%
TaxRs m10315389-41.6%-13.0%
Profit after taxRs m176262124-52.8%-29.9%
Gross profit margin%24.921.318.7
Effective tax rate%36.836.942.0
Net profit margin%12.114.48.8
* 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 fell 7.6% on a year-on-year (YoY) basis. The expenses were up by 0.0% YoY during the same period.
  • The company's operating profit declined by 30.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.7% in 3QFY19 as against 24.9% in 3QFY18.
  • Depreciation charges increased by 19.7% and finance costs declined by 15.1% YoY, respectively.
  • Other income declined by 382.7% YoY during the quarter.
  • Net profit for the quarter declined by 29.9% YoY. Net profit margins during the quarter declined from 12.1% in 3QFY18 to 8.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 18.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.2% QoQ during the same period.
  • The company's operating profit declined by 28.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.7% in 3QFY19 as against 21.3% in 2QFY18.
  • Net profit for the quarter declined by 52.8% QoQ, while net profit margins declined from 14.5% in 2QFY18 to 8.8% in 3QFY19.

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 223.1 to Rs 90.5, registering a Loss of Rs 132.6 or around 59.4%.

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 90.5, the price to earnings (P/E) ratio of KITEX GARMENTS stands at 8.9 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 (2QFY20); Net Profit Up 46.6% (Quarterly Result Update)

Nov 15, 2019 | Updated on Nov 15, 2019

For 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.

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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