MPS Announces Quarterly Results (4QFY19); Net Profit Up 49.1%

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MPS Announces Quarterly Results (4QFY19); Net Profit Up 49.1%
Tue, 21 May

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

MPS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m636995903-9.3%42.0%
Other incomeRs m5051122137.3%144.0%
TurnoverRs m6861,0471,024-2.1%49.4%
ExpensesRs m447740675-8.8%51.2%
Gross profitRs m189255228-10.7%20.3%
DepreciationRs m183227-15.0%52.2%
InterestRs m1011300.0%55.6%
Profit before taxRs m22027432117.0%45.5%
TaxRs m69799519.4%37.6%
Profit after taxRs m15219522616.0%49.1%
Gross profit margin%29.825.625.2
Effective tax rate%31.228.929.5
Net profit margin%22.118.622.1
* 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 42.0% on a year-on-year (YoY) basis. The expenses were up by 51.2% YoY during the same period.
  • The company's operating profit increased by 20.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.2% in 4QFY19 as against 29.8% in 4QFY18.
  • Depreciation charges increased by 52.2% and finance costs increased by 55.6% YoY, respectively.
  • Other income increased by 144.0% YoY during the quarter.
  • Net profit for the quarter increased by 49.1% YoY. Net profit margins during the quarter declined from 22.1% in 4QFY18 to 22.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.8% QoQ during the same period.
  • The company's operating profit declined by 10.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.2% in 4QFY19 as against 25.6% in 3QFY18.
  • Net profit for the quarter increased by 16.0% QoQ, while net profit margins increased from 18.6% in 3QFY18 to 22.1% in 4QFY19.

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 up from Rs 596.1 to Rs 519.0, registering a Loss of Rs 77.1 or around 12.9%.

Overall, the S&P BSE SENSEX is up 13.9% over the year.

Current Valuations

At the current price of Rs 519.0, the price to earnings (P/E) ratio of MPS stands at 12.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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