UNITED SPIRITS Announces Quarterly Results (3QFY19); Net Profit Up 42.8%

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UNITED SPIRITS Announces Quarterly Results (3QFY19); Net Profit Up 42.8%
Thu, 24 Jan

UNITED SPIRITS has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

UNITED SPIRITS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m71,37371,28277,6368.9%8.8%
Other incomeRs m236249614146.6%160.2%
TurnoverRs m71,60971,53178,2509.4%9.3%
ExpensesRs m68,65066,95874,15810.8%8.0%
Gross profitRs m2,5974,3243,276-24.2%26.1%
DepreciationRs m3373503551.4%5.3%
InterestRs m65841555233.0%-16.1%
Profit before taxRs m1,8383,8082,983-21.7%62.3%
TaxRs m4911,2211,059-13.3%115.7%
Profit after taxRs m1,3472,5871,924-25.6%42.8%
Gross profit margin%3.66.14.2
Effective tax rate%26.732.135.5
Net profit margin%1.93.62.5
* 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 8.8% on a year-on-year (YoY) basis. The expenses were up by 8.0% YoY during the same period.
  • The company's operating profit increased by 26.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 4.2% in 3QFY19.
  • Depreciation charges increased by 5.3% and finance costs declined by 16.1% YoY, respectively.
  • Other income increased by 160.2% YoY during the quarter.
  • Net profit for the quarter increased by 42.8% YoY. Net profit margins during the quarter increased from 1.9% in 3QFY18 to 2.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.8% QoQ during the same period.
  • The company's operating profit declined by 24.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.2% in 3QFY19 as against 6.1% in 2QFY18.
  • Net profit for the quarter declined by 25.6% QoQ, while net profit margins declined from 3.6% in 2QFY18 to 2.5% in 3QFY19.

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

UNITED SPIRITS Share Price Performance

Over the last one year, UNITED SPIRITS share price has moved up from Rs 697.8 to Rs 579.4, registering a Loss of Rs 118.4 or around 17.0%.

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 579.4, the price to earnings (P/E) ratio of UNITED SPIRITS stands at 11.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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