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SPICEJET LTD Announces Quarterly Results (2QFY19); Net Profit Down 472.5%

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SPICEJET LTD Announces Quarterly Results (2QFY19); Net Profit Down 472.5%
Thu, 15 Nov

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

SPICEJET LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m18,15322,35818,809-15.9%3.6%
Other incomeRs m234350294-15.9%25.8%
TurnoverRs m18,38722,70819,103-15.9%3.9%
ExpensesRs m16,59421,52122,0242.3%32.7%
Gross profitRs m1,559203-3,215-1685.3%-306.2%
DepreciationRs m5756316482.8%12.8%
InterestRs m1733023257.4%87.7%
Profit before taxRs m1,045-381-3,894-472.5%
TaxRs m0000.0%0.0%
Profit after taxRs m1,045-381-3,894-472.5%
Gross profit margin%8.60.9-17.1
Effective tax rate%0.00.00.0
Net profit margin%5.7-1.7-20.4
* 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 3.6% on a year-on-year (YoY) basis. The expenses were up by 32.7% YoY during the same period.
  • The company's operating profit declined by 306.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.1% in 2QFY19 as against 8.6% in 2QFY18.
  • Depreciation charges increased by 12.8% and finance costs increased by 87.7% YoY, respectively.
  • Other income increased by 25.8% YoY during the quarter.
  • Net profit for the quarter declined by 472.5% YoY. Net profit margins during the quarter declined from 5.7% in 2QFY18 to -20.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.3% QoQ during the same period.
  • The company's operating profit declined by 1685.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.1% in 2QFY19 as against 0.9% in 1QFY18.
  • Net profit for the quarter declined by 923.0% QoQ, while net profit margins declined from -1.7% in 1QFY18 to -20.4% in 2QFY19.

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

SPICEJET LTD Share Price Performance

Over the last one year, SPICEJET LTD share price has moved up from Rs 143.4 to Rs 82.8, registering a Loss of Rs 60.6 or around 42.3%.

Overall, the S&P BSE SENSEX is up 7.3% over the year.

Current Valuations

At the current price of Rs 82.8, the price to book value (P/BV) ratio of SPICEJET LTD stands at -8.1 times.

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