NITCO Announces Quarterly Results (1QFY20); Net Profit Up 11.5%

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NITCO Announces Quarterly Results (1QFY20); Net Profit Up 11.5%
Tue, 13 Aug

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

NITCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,2281,6951,397-17.6%13.7%
Other incomeRs m3639550.2%1365.3%
TurnoverRs m1,2311,7011,436-15.6%16.7%
ExpensesRs m1,2531,6791,436-14.5%14.6%
Gross profitRs m-2516-33-309.1%
DepreciationRs m77779725.6%25.4%
InterestRs m4848517.6%7.1%
Profit before taxRs m-148-103-142
TaxRs m00-110.0%0.0%
Profit after taxRs m-148-103-131
Gross profit margin%-2.10.9-2.4
Effective tax rate%0.00.07.9
Net profit margin%-12.0-6.0-9.1
* 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 13.7% on a year-on-year (YoY) basis. The expenses were up by 14.6% YoY during the same period.
  • The company's operating profit increased by 30.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 2.4% in 1QFY20.
  • Depreciation charges increased by 25.4% and finance costs increased by 7.1% YoY, respectively.
  • Other income increased by 1365.3% YoY during the quarter.
  • Net profit for the quarter increased by 11.5% YoY. Net profit margins during the quarter increased from -12.0% in 1QFY19 to -9.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.5% QoQ during the same period.
  • The company's operating profit declined by 309.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.4% in 1QFY20 as against 0.9% in 4QFY19.
  • Net profit for the quarter declined by 27.1% QoQ, while net profit margins declined from -6.1% in 4QFY19 to -9.1% in 1QFY20.

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

NITCO Share Price Performance

Over the last one year,NITCO share price has moved down from Rs 68.1 to Rs 21.4, registering a Loss of Rs 46.7 or around 68.6%.

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 21.4, the price to book value (P/BV) ratio of NITCO stands at 0.8 times.

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