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NITCO Announces Quarterly Results (4QFY19); Net Profit Down 104.7%

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NITCO Announces Quarterly Results (4QFY19); Net Profit Down 104.7%
Fri, 14 Jun

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

NITCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m1,5881,6621,6952.0%6.7%
Other incomeRs m64665.5%-4.6%
TurnoverRs m1,5941,6651,7012.1%6.7%
ExpensesRs m1,5741,6271,6793.2%6.7%
Gross profitRs m2,4933516-54.3%-99.4%
DepreciationRs m4427877-1.9%-82.6%
InterestRs m694948-2.4%-30.6%
Profit before taxRs m1,988-89-103-105.2%
TaxRs m-203000.0%
Profit after taxRs m2,191-89-103-104.7%
Gross profit margin%157.02.10.9
Effective tax rate%-10.20.00.0
Net profit margin%137.4-5.4-6.0
* 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 6.7% on a year-on-year (YoY) basis. The expenses were up by 6.7% YoY during the same period.
  • The company's operating profit declined by 99.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.9% in 4QFY19 as against 157.0% in 4QFY18.
  • Depreciation charges declined by 82.6% and finance costs declined by 30.6% YoY, respectively.
  • Other income declined by 4.6% YoY during the quarter.
  • Net profit for the quarter declined by 104.7% YoY. Net profit margins during the quarter declined from 137.4% in 4QFY18 to -6.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.2% QoQ during the same period.
  • The company's operating profit declined by 54.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.9% in 4QFY19 as against 2.1% in 3QFY18.
  • Net profit for the quarter declined by 15.4% QoQ, while net profit margins declined from -5.3% in 3QFY18 to -6.0% in 4QFY19.

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 up from Rs 78.4 to Rs 34.7, registering a Loss of Rs 43.7 or around 55.7%.

Overall, the S&P BSE SENSEX is up 10.9% over the year.

Current Valuations

At the current price of Rs 34.7, the price to book value (P/BV) ratio of NITCO stands at 1.3 times.

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