MONNET ISPAT & ENERGY Announces Quarterly Results (2QFY20); Net Profit Up 96.1%

Fri, 25 Oct

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

MONNET ISPAT & ENERGY Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-18*	3 Jun-19*	3 Sep-19*	QoQ Change	YoY Change
Net Sales	Rs m	4,197	7,771	6,604	-15.0%	57.4%
Other income	Rs m	33	55	37	-33.3%	10.9%
Turnover	Rs m	4,230	7,826	6,641	-15.1%	57.0%
Expenses	Rs m	4,122	8,024	6,598	-17.8%	60.1%
Gross profit	Rs m	-27,653	-253	6
Depreciation	Rs m	816	535	533	-0.4%	-34.7%
Interest	Rs m	160	620	625	0.8%	289.4%
Profit before tax	Rs m	-28,596	-1,352	-1,114
Tax	Rs m	0	0	0	0.0%	0.0%
Profit after tax	Rs m	-28,596	-1,352	-1,114
Gross profit margin	%	-658.8	-3.3	0.1
Effective tax rate	%	0.0	0.0	0.0
Net profit margin	%	-676.0	-17.3	-16.8

Year-on-Year Performance:

• The company's operating income during the quarter grew 57.4% on a year-on-year (YoY) basis. The expenses were up by 60.1% YoY during the same period.
• The company's operating profit declined by 100.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.1% in 2QFY20 as against 658.8% in 2QFY19.
• Depreciation charges declined by 34.7% and finance costs increased by 289.4% YoY, respectively.
• Other income increased by 10.9% YoY during the quarter.
• Net profit for the quarter increased by 96.1% YoY. Net profit margins during the quarter increased from -676.0% in 2QFY19 to -16.8% in 2QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 15.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 17.8% QoQ during the same period.
• The company's operating profit declined by 102.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.1% in 2QFY20 as against 3.3% in 1QFY19.
• Net profit for the quarter increased by 17.6% QoQ, while net profit margins increased from -17.3% in 1QFY19 to -16.8% in 2QFY20.

To see how MONNET ISPAT & ENERGY has performed over the last eight quarters,please visit here.

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

MONNET ISPAT & ENERGY Share Price Performance

Over the last one year,MONNET ISPAT & ENERGY share price has moved down from Rs 31.3 to Rs 10.0, registering a Loss of Rs 21.3 or around 68.1%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 9,029.1 (up 0.3%). Over the last one year it has moved down from 12,620.6 to 9,029.1, a gain of 3,592 points (down 28.5%).

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

Current Valuations

At the current price of Rs 10.0, the price to book value (P/BV) ratio of MONNET ISPAT & ENERGY stands at 0.0 times.