UNITED SPIRITS Announces Quarterly Results (2QFY20); Net Profit Down 38.7%

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UNITED SPIRITS Announces Quarterly Results (2QFY20); Net Profit Down 38.7%
Wed, 6 Nov

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

UNITED SPIRITS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m71,28270,77872,9993.1%2.4%
Other incomeRs m24910146-54.5%-81.5%
TurnoverRs m71,53170,87973,0453.1%2.1%
ExpensesRs m66,95866,82768,9183.1%2.9%
Gross profitRs m4,3243,9514,0813.3%-5.6%
DepreciationRs m35050071242.4%103.4%
InterestRs m415520503-3.3%21.2%
Profit before taxRs m3,8083,0322,912-4.0%-23.5%
TaxRs m1,2211,0581,32725.4%8.7%
Profit after taxRs m2,5871,9741,585-19.7%-38.7%
Gross profit margin%6.15.65.6
Effective tax rate%32.134.945.6
Net profit margin%3.62.82.2
* 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 2.4% on a year-on-year (YoY) basis. The expenses were up by 2.9% YoY during the same period.
  • The company's operating profit declined by 5.6% YoY during the quarter. Consequently, operating profit margins remained same and stood at 5.6% in 2QFY20.
  • Depreciation charges increased by 103.4% and finance costs increased by 21.2% YoY, respectively.
  • Other income declined by 81.5% YoY during the quarter.
  • Net profit for the quarter declined by 38.7% YoY. Net profit margins during the quarter declined from 3.6% in 2QFY19 to 2.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit increased by 3.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 5.6% in 2QFY20 as against 5.6% in 1QFY19.
  • Net profit for the quarter declined by 19.7% QoQ, while net profit margins declined from 2.8% in 1QFY19 to 2.2% in 2QFY20.

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

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UNITED SPIRITS Share Price Performance

Over the last one year,UNITED SPIRITS share price has moved up from Rs 625.7 to Rs 630.0, registering a Gain of Rs 4.3 or around 0.7%.

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 630.0, the price to earnings (P/E) ratio of UNITED SPIRITS stands at 13.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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