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MOTILAL OSWAL Announces Quarterly Results (3QFY19); Net Profit Down 76.1%

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MOTILAL OSWAL Announces Quarterly Results (3QFY19); Net Profit Down 76.1%
Fri, 18 Jan

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

MOTILAL OSWAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,2866,8216,476-5.1%-11.1%
Other incomeRs m381910-45.5%-72.7%
TurnoverRs m7,3246,8406,486-5.2%-11.4%
ExpensesRs m3,7835,2095,004-3.9%32.3%
Gross profitRs m3,5211,6121,472-8.6%-58.2%
DepreciationRs m976060-0.2%-38.8%
InterestRs m1,3291,3011,252-3.8%-5.8%
Profit before taxRs m2,132270171-36.5%-92.0%
TaxRs m651239-183-176.4%-128.1%
Profit after taxRs m1,481313541049.7%-76.1%
Gross profit margin%48.323.622.7
Effective tax rate%30.688.6-106.6
Net profit margin%20.20.55.5
* 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 11.1% on a year-on-year (YoY) basis. The expenses were up by 32.3% YoY during the same period.
  • The company's operating profit declined by 58.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.7% in 3QFY19 as against 48.3% in 3QFY18.
  • Depreciation charges declined by 38.8% and finance costs declined by 5.8% YoY, respectively.
  • Other income declined by 72.7% YoY during the quarter.
  • Net profit for the quarter declined by 76.1% YoY. Net profit margins during the quarter declined from 20.2% in 3QFY18 to 5.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.9% QoQ during the same period.
  • The company's operating profit declined by 8.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.7% in 3QFY19 as against 23.6% in 2QFY18.
  • Net profit for the quarter increased by 1049.7% QoQ, while net profit margins increased from 0.5% in 2QFY18 to 5.5% in 3QFY19.

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 1,400.5 to Rs 668.9, registering a Loss of Rs 731.6 or around 52.2%.

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 668.9, the price to earnings (P/E) ratio of MOTILAL OSWAL stands at 33.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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