MTNL Announces Quarterly Results (4QFY19); Net Profit Up 16.1%

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MTNL Announces Quarterly Results (4QFY19); Net Profit Up 16.1%
Wed, 5 Jun

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

MTNL Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m4,9245,1455,3684.3%9.0%
Other incomeRs m1,6771,7791,485-16.6%-11.5%
TurnoverRs m6,6006,9246,853-1.0%3.8%
ExpensesRs m9,0778,4477,530-10.9%-17.0%
Gross profitRs m-4,154-3,302-2,162
DepreciationRs m2,5852,4582,407-2.1%-6.9%
InterestRs m3,9444,3424,4713.0%13.4%
Profit before taxRs m-9,006-8,323-7,555
TaxRs m0000.0%0.0%
Profit after taxRs m-9,006-8,323-7,555
Gross profit margin%-84.4-64.2-40.3
Effective tax rate%0.00.00.0
Net profit margin%-136.5-120.2-110.2
* 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 grew 9.0% on a year-on-year (YoY) basis. The expenses were down by 17.0% YoY during the same period.
  • The company's operating profit declined by 48.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.3% in 4QFY19 as against 84.4% in 4QFY18.
  • Depreciation charges declined by 6.9% and finance costs increased by 13.4% YoY, respectively.
  • Other income declined by 11.5% YoY during the quarter.
  • Net profit for the quarter increased by 16.1% YoY. Net profit margins during the quarter increased from -136.5% in 4QFY18 to -110.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.9% QoQ during the same period.
  • The company's operating profit increased by 34.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 40.3% in 4QFY19 as against 64.2% in 3QFY18.
  • Net profit for the quarter increased by 9.2% QoQ, while net profit margins increased from -120.2% in 3QFY18 to -110.2% in 4QFY19.

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 15.1 to Rs 9.9, registering a Loss of Rs 5.2 or around 34.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,741.0 (down 1.5%). Over the last one year it has moved up from 6,827.9 to 7,741.0, a gain of 913 points (up 13.4%).

Overall, the S&P BSE SENSEX is up 14.5% over the year.

Current Valuations

At the current price of Rs 9.9, the price to book value (P/BV) ratio of MTNL stands at -0.1 times.

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