MTNL Announces Quarterly Results (1QFY20); Net Profit Down 11.6%

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MTNL Announces Quarterly Results (1QFY20); Net Profit Down 11.6%
Tue, 20 Aug

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

MTNL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,9235,3684,124-23.2%-16.2%
Other incomeRs m1,1541,4851,111-25.2%-3.7%
TurnoverRs m6,0776,8535,235-23.6%-13.9%
ExpensesRs m9,0087,5308,52913.3%-5.3%
Gross profitRs m-4,084-2,162-4,405
DepreciationRs m2,5122,4072,4893.4%-0.9%
InterestRs m3,9914,4714,7476.2%18.9%
Profit before taxRs m-9,434-7,555-10,530
TaxRs m0000.0%0.0%
Profit after taxRs m-9,434-7,555-10,530
Gross profit margin%-83.0-40.3-106.8
Effective tax rate%0.00.00.0
Net profit margin%-155.2-110.2-201.2
* 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 16.2% on a year-on-year (YoY) basis. The expenses were down by 5.3% YoY during the same period.
  • The company's operating profit increased by 7.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 106.8% in 1QFY20 as against 83.0% in 1QFY19.
  • Depreciation charges declined by 0.9% and finance costs increased by 18.9% YoY, respectively.
  • Other income declined by 3.7% YoY during the quarter.
  • Net profit for the quarter declined by 11.6% YoY. Net profit margins during the quarter declined from -155.2% in 1QFY19 to -201.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 23.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 13.3% QoQ during the same period.
  • The company's operating profit declined by 103.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 106.8% in 1QFY20 as against 40.3% in 4QFY19.
  • Net profit for the quarter declined by 39.4% QoQ, while net profit margins declined from -110.2% in 4QFY19 to -201.2% in 1QFY20.

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

MTNL Share Price Performance

Over the last one year,MTNL share price has moved down from Rs 15.2 to Rs 6.2, registering a Loss of Rs 9.0 or around 59.1%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,723.4 (up 1.4%). Over the last one year it has moved up from 7,529.9 to 7,723.4, a gain of 194 points (up 2.6%).

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 6.2, the price to book value (P/BV) ratio of MTNL stands at -0.1 times.

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