SPICEJET Announces Quarterly Results (2QFY20); Net Profit Down 18.8%

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SPICEJET Announces Quarterly Results (2QFY20); Net Profit Down 18.8%
Fri, 15 Nov

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

SPICEJET Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m18,80930,02128,453-5.2%51.3%
Other incomeRs m2941,4322,28259.4%675.3%
TurnoverRs m19,10331,45330,735-2.3%60.9%
ExpensesRs m22,02423,82529,63024.4%34.5%
Gross profitRs m-3,2156,196-1,177-119.0%
DepreciationRs m6483,7734,36315.6%572.9%
InterestRs m3251,2381,36810.5%321.2%
Profit before taxRs m-3,8942,617-4,626-276.8%
TaxRs m0000.0%0.0%
Profit after taxRs m-3,8942,617-4,626-276.8%
Gross profit margin%-17.120.6-4.1
Effective tax rate%0.00.00.0
Net profit margin%-20.48.3-15.1
* 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 51.3% on a year-on-year (YoY) basis. The expenses were up by 34.5% YoY during the same period.
  • The company's operating profit declined by 63.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.1% in 2QFY20 as against 17.1% in 2QFY19.
  • Depreciation charges increased by 572.9% and finance costs increased by 321.2% YoY, respectively.
  • Other income increased by 675.3% YoY during the quarter.
  • Net profit for the quarter declined by 18.8% YoY. Net profit margins during the quarter increased from -20.4% in 2QFY19 to -15.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 24.4% QoQ during the same period.
  • The company's operating profit declined by 119.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.1% in 2QFY20 as against 20.6% in 1QFY19.
  • Net profit for the quarter declined by 276.8% QoQ, while net profit margins declined from 8.3% in 1QFY19 to -15.1% in 2QFY20.

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

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SPICEJET Share Price Performance

Over the last one year,SPICEJET share price has moved up from Rs 83.0 to Rs 106.5, registering a Gain of Rs 23.6 or around 28.4%.

Overall, the S&P BSE SENSEX is up 15.3% over the year.

Current Valuations

At the current price of Rs 106.5, the price to book value (P/BV) ratio of SPICEJET stands at -18.2 times.

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SPICEJET Announces Quarterly Results (3QFY20); Net Profit Up 33.0% (Quarterly Result Update)

Feb 19, 2020 | Updated on Feb 19, 2020

For the quarter ended December 2019, SPICEJET has posted a net profit of Rs 732 m (up 33.0% YoY). Sales on the other hand came in at Rs 36 bn (up 46.7% YoY). Read on for a complete analysis of SPICEJET's quarterly results.

SPICEJET Announces Quarterly Results (1QFY20); Net Profit Up 787.5% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, SPICEJET has posted a net profit of Rs 3 bn (up 787.5% YoY). Sales on the other hand came in at Rs 30 bn (up 34.3% YoY). Read on for a complete analysis of SPICEJET's quarterly results.

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