MPS Announces Quarterly Results (1QFY20); Net Profit Up 0.7%

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MPS Announces Quarterly Results (1QFY20); Net Profit Up 0.7%
Mon, 29 Jul

MPS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

MPS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m721903836-7.4%15.9%
Other incomeRs m4112257-53.3%37.9%
TurnoverRs m7631,024893-12.8%17.1%
ExpensesRs m529675633-6.3%19.7%
Gross profitRs m193228204-10.5%5.7%
DepreciationRs m21273942.1%85.1%
InterestRs m015278.6%2550.0%
Profit before taxRs m213321217-32.4%1.7%
TaxRs m609563-33.6%4.5%
Profit after taxRs m153226154-31.9%0.7%
Gross profit margin%26.725.224.4
Effective tax rate%28.329.529.0
Net profit margin%20.022.117.2
* 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 15.9% on a year-on-year (YoY) basis. The expenses were up by 19.7% YoY during the same period.
  • The company's operating profit increased by 5.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.4% in 1QFY20 as against 26.7% in 1QFY19.
  • Depreciation charges increased by 85.1% and finance costs increased by 2550.0% YoY, respectively.
  • Other income increased by 37.9% YoY during the quarter.
  • Net profit for the quarter increased by 0.7% YoY. Net profit margins during the quarter declined from 20.0% in 1QFY19 to 17.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.3% QoQ during the same period.
  • The company's operating profit declined by 10.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.4% in 1QFY20 as against 25.2% in 4QFY19.
  • Net profit for the quarter declined by 31.9% QoQ, while net profit margins declined from 22.1% in 4QFY19 to 17.2% in 1QFY20.

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

MPS Share Price Performance

Over the last one year,MPS share price has moved down from Rs 536.6 to Rs 477.8, registering a Loss of Rs 58.8 or around 11.0%.

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 477.8, the price to earnings (P/E) ratio of MPS stands at 11.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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For the quarter ended December 2019, MPS has posted a net profit of Rs 130 m (down 33.5% YoY). Sales on the other hand came in at Rs 837 m (down 15.9% YoY). Read on for a complete analysis of MPS's quarterly results.

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