NITIN FIRE PROTEC Announces Quarterly Results (3QFY19); Net Profit Down 2.2%

Tue, 5 Mar

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

NITIN FIRE PROTEC Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	116	21	34	61.8%	-70.4%
Other income	Rs m	21	303	-100	-133.0%	-570.8%
Turnover	Rs m	138	324	-66	-120.2%	-147.6%
Expenses	Rs m	619	374	509	36.2%	-17.7%
Gross profit	Rs m	-729	-353	-475
Depreciation	Rs m	9	4	4	-16.0%	-61.4%
Interest	Rs m	139	215	296	37.9%	113.3%
Profit before tax	Rs m	-856	-269	-874
Tax	Rs m	0	0	0	0.0%	0.0%
Profit after tax	Rs m	-856	-269	-875
Gross profit margin	%	-626.9	-1,659.3	-1,381.5
Effective tax rate	%	0.0	0.0	0.0
Net profit margin	%	-622.4	-82.9	1,334.9

Year-on-Year Performance:

• The company's operating income during the quarter fell 70.4% on a year-on-year (YoY) basis. The expenses were down by 17.7% YoY during the same period.
• The company's operating profit declined by 34.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1381.5% in 3QFY19 as against 626.9% in 3QFY18.
• Depreciation charges declined by 61.4% and finance costs increased by 113.3% YoY, respectively.
• Other income declined by 570.8% YoY during the quarter.
• Net profit for the quarter declined by 2.2% YoY. Net profit margins during the quarter increased from -622.4% in 3QFY18 to 1334.9% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 61.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.2% QoQ during the same period.
• The company's operating profit increased by 34.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 1381.5% in 3QFY19 as against 1659.3% in 2QFY18.
• Net profit for the quarter declined by 225.6% QoQ, while net profit margins increased from -83.0% in 2QFY18 to 1334.9% in 3QFY19.

To see how NITIN FIRE PROTEC has performed over the last eight quarters, please visit here.

NITIN FIRE PROTEC Share Price Performance

Over the last one year, NITIN FIRE PROTEC share price has moved up from Rs 5.4 to Rs 1.5, registering a Loss of Rs 3.9 or around 72.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,329.2 (up 0.0%). Over the last one year it has moved down from 18,839.3 to 17,329.2, a gain of 1,510 points (down 8.0%).

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 1.5, the price to book value (P/BV) ratio of NITIN FIRE PROTEC stands at 0.1 times.