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MTNL Announces Quarterly Results (4QFY18); Net Profit Up 41.9%

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MTNL Announces Quarterly Results (4QFY18); Net Profit Up 41.9%
Wed, 13 Jun

MTNL has announced its results for the quarter ended March 2018. Here is a detailed performance review of the same:

MTNL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m7,0525,8014,924-15.1%-30.2%
Other incomeRs m2,5802,7251,677-38.5%-35.0%
TurnoverRs m9,6318,5266,600-22.6%-31.5%
ExpensesRs m9,6958,6689,0774.7%-6.4%
Gross profitRs m-2,643-2,867-4,154
DepreciationRs m2,7162,3832,5858.5%-4.8%
InterestRs m3,6133,8653,9442.0%9.2%
Profit before taxRs m-6,392-6,390-9,006
TaxRs m-44000.0%
Profit after taxRs m-6,348-6,390-9,006
Gross profit margin%-37.5-49.4-84.4
Effective tax rate%0.70.00.0
Net profit margin%-65.9-74.9-136.5
* 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 30.2% on a year-on-year (YoY) basis. The expenses were down by 6.4% YoY during the same period.
  • The company's operating profit increased by 57.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 84.4% in 4QFY18 as against 37.5% in 4QFY17.
  • Depreciation charges and finance costs declined by 4.8% YoY and 9.2% YoY, respectively.
  • Other income declined by 35.0% YoY during the quarter.
  • Net profit for the quarter increased by 41.9% YoY. Net profit margins during the quarter declined from -65.9% in 4QFY17 to 136.5% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.7% QoQ during the same period.
  • The company's operating profit declined by 44.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 84.4% in 4QFY18 as against 49.4% in 3QFY17.
  • Net profit for the quarter increased by 40.9% QoQ, while net profit margins declined from 74.9% in 3QFY17 to 136.5% in 4QFY18.

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 up from Rs 22.8 to Rs 17.9, registering a Loss of Rs -4.9 or around 21.5%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,145.4 (up 0.9%). Over the last one year it has moved up from 5,613.1 to 7,145.4, a gain of 1,532.3 points (up 27.3%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 17.9, the price to earnings (P/E) ratio of MTNL stands at NM times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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