MMTC LTD Announces Quarterly Results (4QFY19); Net Profit Down 8.3%

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MMTC LTD Announces Quarterly Results (4QFY19); Net Profit Down 8.3%
Mon, 3 Jun

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

MMTC LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m30,95193,66871,018-24.2%129.5%
Other incomeRs m1561959210.1%-62.5%
TurnoverRs m31,10793,68771,077-24.1%128.5%
ExpensesRs m30,90893,08270,579-24.2%128.4%
Gross profitRs m-6602357-40.7%
DepreciationRs m13131518.0%20.8%
InterestRs m6718723425.2%246.7%
Profit before taxRs m71421166-60.5%135.7%
TaxRs m-5814149-65.3%
Profit after taxRs m128281118-58.1%-8.3%
Gross profit margin%0.00.60.5
Effective tax rate%-81.633.429.3
Net profit margin%0.40.30.2
* 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 129.5% on a year-on-year (YoY) basis. The expenses were up by 128.4% YoY during the same period.
  • The company's operating profit declined by 6248.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.5% in 4QFY19 as against 0.0% in 4QFY18.
  • Depreciation charges increased by 20.8% and finance costs increased by 246.7% YoY, respectively.
  • Other income declined by 62.5% YoY during the quarter.
  • Net profit for the quarter declined by 8.3% YoY. Net profit margins during the quarter declined from 0.4% in 4QFY18 to 0.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 24.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 24.2% QoQ during the same period.
  • The company's operating profit declined by 40.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.5% in 4QFY19 as against 0.6% in 3QFY18.
  • Net profit for the quarter declined by 58.1% QoQ, while net profit margins declined from 0.3% in 3QFY18 to 0.2% in 4QFY19.

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

MMTC LTD Share Price Performance

Over the last one year, MMTC LTD share price has moved up from Rs 34.1 to Rs 26.0, registering a Loss of Rs 8.2 or around 23.9%.

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 26.0, the price to earnings (P/E) ratio of MMTC LTD stands at 31.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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For the quarter ended June 2019, MMTC LTD has posted a net profit of Rs 197 m (up 98.5% YoY). Sales on the other hand came in at Rs 69 bn (up 35.3% YoY). Read on for a complete analysis of MMTC LTD's quarterly results.

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