MOTILAL OSWAL Announces Quarterly Results (2QFY19); Net Profit Down 97.9%

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MOTILAL OSWAL Announces Quarterly Results (2QFY19); Net Profit Down 97.9%
Tue, 6 Nov

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

MOTILAL OSWAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,0456,4656,8215.5%-3.2%
Other incomeRs m66131942.1%-71.1%
TurnoverRs m7,1106,4786,8405.6%-3.8%
ExpensesRs m3,4303,6705,20941.9%51.9%
Gross profitRs m3,5632,8021,612-42.5%-54.8%
DepreciationRs m876060-1.3%-31.6%
InterestRs m1,3131,3051,301-0.3%-0.9%
Profit before taxRs m2,2281,450270-81.4%-87.9%
TaxRs m791407239-41.2%-69.7%
Profit after taxRs m1,4381,04431-97.0%-97.9%
Gross profit margin%50.643.323.6
Effective tax rate%35.528.088.6
Net profit margin%20.216.10.5
* 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 fell 3.2% on a year-on-year (YoY) basis. The expenses were up by 51.9% YoY during the same period.
  • The company's operating profit declined by 54.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.6% in 2QFY19 as against 50.6% in 2QFY18.
  • Depreciation charges declined by 31.6% and finance costs declined by 0.9% YoY, respectively.
  • Other income declined by 71.1% YoY during the quarter.
  • Net profit for the quarter declined by 97.9% YoY. Net profit margins during the quarter declined from 20.2% in 2QFY18 to 0.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 41.9% QoQ during the same period.
  • The company's operating profit declined by 42.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.6% in 2QFY19 as against 43.3% in 1QFY18.
  • Net profit for the quarter declined by 97.0% QoQ, while net profit margins declined from 16.1% in 1QFY18 to 0.5% in 2QFY19.

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

MOTILAL OSWAL Share Price Performance

Over the last one year, MOTILAL OSWAL share price has moved up from Rs 1,374.5 to Rs 691.3, registering a Loss of Rs 683.2 or around 49.7%.

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 691.3, the price to earnings (P/E) ratio of MOTILAL OSWAL stands at 24.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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