NITCO LTD Announces Quarterly Results (3QFY19); Net Profit Down 9.7%

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NITCO LTD Announces Quarterly Results (3QFY19); Net Profit Down 9.7%
Wed, 20 Feb

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

NITCO LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,3781,3191,66226.0%20.6%
Other incomeRs m3442.5%36.2%
TurnoverRs m1,3801,3231,66525.9%20.6%
ExpensesRs m1,3621,3201,62723.2%19.5%
Gross profitRs m16-135121.8%
DepreciationRs m947978-0.2%-16.5%
InterestRs m65349-7.5%766.7%
Profit before taxRs m-81-129-89
TaxRs m0000.0%0.0%
Profit after taxRs m-81-129-89
Gross profit margin%1.1-0.12.1
Effective tax rate%0.00.00.0
Net profit margin%-5.9-9.8-5.4
* 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 20.6% on a year-on-year (YoY) basis. The expenses were up by 19.5% YoY during the same period.
  • The company's operating profit increased by 121.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.1% in 3QFY19 as against 1.1% in 3QFY18.
  • Depreciation charges declined by 16.5% and finance costs increased by 766.7% YoY, respectively.
  • Other income increased by 36.2% YoY during the quarter.
  • Net profit for the quarter declined by 9.7% YoY. Net profit margins during the quarter increased from -5.9% in 3QFY18 to -5.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.2% QoQ during the same period.
  • The company's operating profit increased by 3010.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.1% in 3QFY19 as against 0.1% in 2QFY18.
  • Net profit for the quarter increased by 31.0% QoQ, while net profit margins increased from -9.8% in 2QFY18 to -5.4% in 3QFY19.

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

NITCO LTD Share Price Performance

Over the last one year, NITCO LTD share price has moved up from Rs 120.9 to Rs 35.5, registering a Loss of Rs 85.4 or around 70.6%.

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 35.5, the price to earnings (P/E) ratio of NITCO LTD stands at 1.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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