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

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 Change	YoY Change
Net Sales	Rs m	721	903	836	-7.4%	15.9%
Other income	Rs m	41	122	57	-53.3%	37.9%
Turnover	Rs m	763	1,024	893	-12.8%	17.1%
Expenses	Rs m	529	675	633	-6.3%	19.7%
Gross profit	Rs m	193	228	204	-10.5%	5.7%
Depreciation	Rs m	21	27	39	42.1%	85.1%
Interest	Rs m	0	1	5	278.6%	2550.0%
Profit before tax	Rs m	213	321	217	-32.4%	1.7%
Tax	Rs m	60	95	63	-33.6%	4.5%
Profit after tax	Rs m	153	226	154	-31.9%	0.7%
Gross profit margin	%	26.7	25.2	24.4
Effective tax rate	%	28.3	29.5	29.0
Net profit margin	%	20.0	22.1	17.2

* 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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MPS SHARE PRICE

BSE: 486.40 1.78% NSE: 492.60 2.58%
Mar 2, 2021 (Close)

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