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MONNET ISPAT Announces Quarterly Results (2QFY19); Net Profit Down 709.5%

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MONNET ISPAT Announces Quarterly Results (2QFY19); Net Profit Down 709.5%
Wed, 17 Oct

MONNET ISPAT has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

MONNET ISPAT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,1574,3314,197-3.1%32.9%
Other incomeRs m2710933-69.7%24.9%
TurnoverRs m3,1844,4404,230-4.7%32.9%
ExpensesRs m3,0244,1704,122-1.2%36.3%
Gross profitRs m134160-27,653-17361.3%-20767.1%
DepreciationRs m912876816-6.9%-10.5%
InterestRs m2,7813,291160-95.1%-94.2%
Profit before taxRs m-3,532-3,897-28,596
TaxRs m0000.0%0.0%
Profit after taxRs m-3,532-3,897-28,596
Gross profit margin%4.23.7-658.8
Effective tax rate%0.00.00.0
Net profit margin%-110.9-87.8-676.0
* 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 32.9% on a year-on-year (YoY) basis. The expenses were up by 36.3% YoY during the same period.
  • The company's operating profit declined by 20767.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 658.8% in 2QFY19 as against 4.2% in 2QFY18.
  • Depreciation charges and finance costs declined by 10.5% YoY and 94.2% YoY, respectively.
  • Other income increased by 24.9% YoY during the quarter.
  • Net profit for the quarter declined by 709.5% YoY. Net profit margins during the quarter declined from -110.9% in 2QFY18 to -676.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.2% QoQ during the same period.
  • The company's operating profit declined by 17361.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 658.8% in 2QFY19 as against 3.7% in 1QFY18.
  • Net profit for the quarter declined by 633.7% QoQ, while net profit margins declined from -87.8% in 1QFY18 to -676.0% in 2QFY19.

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

MONNET ISPAT Share Price Performance

Over the last one year, MONNET ISPAT share price has moved down from Rs 45.2 to Rs 37.3, registering a Loss of Rs 8.0 or around 17.6%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 13,158.3 (up 0.7%). Over the last one year it has moved down from 14,748.5 to 13,158.3, a loss of 1,590 points (down 10.8%).

Overall, the S&P BSE SENSEX is up 8.6% over the year.

Current Valuations

At the current price of Rs 37.3, the price to book value (P/BV) ratio of MONNET ISPAT stands at 0.4 times.

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For the quarter ended December 2018, MONNET ISPAT & ENERGY has posted a net profit of Rs 777 m (up 80.4% YoY). Sales on the other hand came in at Rs 5 bn (up 54.1% YoY). Read on for a complete analysis of MONNET ISPAT & ENERGY's quarterly results.

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For the quarter ended March 2018, MONNET ISPAT has posted a net profit of Rs 8 bn (up 63.4% YoY). Sales on the other hand came in at Rs 4 bn (up 13.4% YoY). Read on for a complete analysis of MONNET ISPAT's quarterly results.

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