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MARICO LTD Announces Quarterly Results (2QFY19); Net Profit Up 17.6%

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MARICO LTD Announces Quarterly Results (2QFY19); Net Profit Up 17.6%
Mon, 5 Nov

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

MARICO LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m15,36320,26818,368-9.4%19.6%
Other incomeRs m21424029221.7%36.2%
TurnoverRs m15,57720,50818,660-9.0%19.8%
ExpensesRs m12,77216,71915,428-7.7%20.8%
Gross profitRs m2,5913,5522,947-17.0%13.8%
DepreciationRs m235224224-0.2%-4.8%
InterestRs m3553577.2%61.1%
Profit before taxRs m2,5353,5142,959-15.8%16.7%
TaxRs m679913776-15.0%14.3%
Profit after taxRs m1,8562,6012,183-16.1%17.6%
Gross profit margin%16.917.516.0
Effective tax rate%26.826.026.2
Net profit margin%11.912.711.7
* 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 19.6% on a year-on-year (YoY) basis. The expenses were up by 20.8% YoY during the same period.
  • The company's operating profit increased by 13.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.0% in 2QFY19 as against 16.9% in 2QFY18.
  • Depreciation charges declined by 4.8% and finance costs increased by 61.1% YoY, respectively.
  • Other income increased by 36.2% YoY during the quarter.
  • Net profit for the quarter increased by 17.6% YoY. Net profit margins during the quarter declined from 11.9% in 2QFY18 to 11.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.7% QoQ during the same period.
  • The company's operating profit declined by 17.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.0% in 2QFY19 as against 17.5% in 1QFY18.
  • Net profit for the quarter declined by 16.1% QoQ, while net profit margins declined from 12.7% in 1QFY18 to 11.7% in 2QFY19.

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

MARICO LTD Share Price Performance

Over the last one year, MARICO LTD share price has moved up from Rs 312.1 to Rs 340.8, registering a Gain of Rs 28.7 or around 9.2%.

Meanwhile, the S&P BSE FMCG Index is trading at Rs 11,192.2 (down 0.3%). Over the last one year it has moved up from 10,305.9 to 11,192.2, a gain of 886 points (up 8.6%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 340.8, the price to earnings (P/E) ratio of MARICO LTD stands at 49.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.1 times.

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