MPS Announces Quarterly Results (2QFY20); Net Profit Up 18.4%

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MPS Announces Quarterly Results (2QFY20); Net Profit Up 18.4%
Tue, 5 Nov

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

MPS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m1,0068368825.5%-12.3%
Other incomeRs m39576413.4%66.4%
TurnoverRs m1,0458939466.0%-9.4%
ExpensesRs m748633617-2.5%-17.5%
Gross profitRs m25820426530.2%2.8%
DepreciationRs m3139390.0%24.6%
InterestRs m0550.0%2550.0%
Profit before taxRs m26621728631.9%7.6%
TaxRs m7963653.0%-18.0%
Profit after taxRs m18715422143.7%18.4%
Gross profit margin%25.724.430.1
Effective tax rate%29.729.022.7
Net profit margin%17.917.223.4
* 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 12.3% on a year-on-year (YoY) basis. The expenses were down by 17.5% YoY during the same period.
  • The company's operating profit increased by 2.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.1% in 2QFY20 as against 25.7% in 2QFY19.
  • Depreciation charges increased by 24.6% and finance costs increased by 2550.0% YoY, respectively.
  • Other income increased by 66.4% YoY during the quarter.
  • Net profit for the quarter increased by 18.4% YoY. Net profit margins during the quarter increased from 17.9% in 2QFY19 to 23.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.5% QoQ during the same period.
  • The company's operating profit increased by 30.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.1% in 2QFY20 as against 24.4% in 1QFY19.
  • Net profit for the quarter increased by 43.7% QoQ, while net profit margins increased from 17.2% in 1QFY19 to 23.4% in 2QFY20.

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

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MPS Share Price Performance

Over the last one year,MPS share price has moved up from Rs 528.4 to Rs 588.8, registering a Gain of Rs 60.4 or around 11.4%.

Overall, the S&P BSE SENSEX is up 15.4% over the year.

Current Valuations

At the current price of Rs 588.8, the price to earnings (P/E) ratio of MPS stands at 13.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 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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