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- KITEX GARMENTS Announces Quarterly Results (4QFY19); Net Profit Up 136.0%
KITEX GARMENTS Announces Quarterly Results (4QFY19); Net Profit Up 136.0%
Tue, 21 May
KITEX GARMENTS has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:
KITEX GARMENTS Quarterly Financials
| No. of Mths Qtr. Ending | 3 Mar-18* | 3 Dec-18* | 3 Mar-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 1,312 | 1,361 | 1,800 | 32.2% | 37.2% |
| Other income | Rs m | 8 | 41 | 17 | -59.6% | 115.1% |
| Turnover | Rs m | 1,319 | 1,402 | 1,816 | 29.5% | 37.7% |
| Expenses | Rs m | 1,130 | 1,106 | 1,360 | 22.9% | 20.4% |
| Gross profit | Rs m | 182 | 255 | 440 | 72.6% | 141.7% |
| Depreciation | Rs m | 61 | 69 | 69 | 0.2% | 12.8% |
| Interest | Rs m | 11 | 14 | 14 | 4.5% | 34.9% |
| Profit before tax | Rs m | 118 | 213 | 373 | 75.0% | 217.0% |
| Tax | Rs m | 14 | 89 | 129 | 44.3% | 803.3% |
| Profit after tax | Rs m | 103 | 124 | 244 | 97.3% | 136.0% |
| Gross profit margin | % | 13.9 | 18.7 | 24.4 | ||
| Effective tax rate | % | 12.1 | 42.0 | 34.6 | ||
| Net profit margin | % | 7.8 | 8.8 | 13.4 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 37.2% on a year-on-year (YoY) basis. The expenses were up by 20.4% YoY during the same period.
- The company's operating profit increased by 141.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 4QFY19 as against 13.9% in 4QFY18.
- Depreciation charges increased by 12.8% and finance costs increased by 34.9% YoY, respectively.
- Other income increased by 115.1% YoY during the quarter.
- Net profit for the quarter increased by 136.0% YoY. Net profit margins during the quarter increased from 7.8% in 4QFY18 to 13.4% in 4QFY19.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 32.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.9% QoQ during the same period.
- The company's operating profit increased by 72.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.4% in 4QFY19 as against 18.7% in 3QFY18.
- Net profit for the quarter increased by 97.3% QoQ, while net profit margins increased from 8.8% in 3QFY18 to 13.4% in 4QFY19.
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 182.6 to Rs 111.5, registering a Loss of Rs 71.2 or around 39.0%.
Overall, the S&P BSE SENSEX is up 13.9% over the year.
Current Valuations
At the current price of Rs 111.5, the price to earnings (P/E) ratio of KITEX GARMENTS stands at 9.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.
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Related Views on News
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.
KITEX GARMENTS Announces Quarterly Results (1QFY20); Net Profit Down 21.8% (Quarterly Result Update)
Aug 21, 2019 | Updated on Aug 21, 2019For 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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