NAHAR SPINNING M Announces Quarterly Results (3QFY19); Net Profit Up 830.6%

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NAHAR SPINNING M Announces Quarterly Results (3QFY19); Net Profit Up 830.6%
Fri, 15 Feb

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

NAHAR SPINNING M Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5,4585,4005,6835.2%4.1%
Other incomeRs m192665152.5%240.7%
TurnoverRs m5,4775,4265,7495.9%5.0%
ExpensesRs m5,0944,6995,1178.9%0.5%
Gross profitRs m363701566-19.2%55.8%
DepreciationRs m233223198-11.4%-15.1%
InterestRs m109112107-4.0%-1.6%
Profit before taxRs m40392326-16.7%707.3%
TaxRs m18136113-16.9%546.0%
Profit after taxRs m23256213-16.7%830.6%
Gross profit margin%6.713.010.0
Effective tax rate%43.334.734.7
Net profit margin%0.44.73.7
* 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 4.1% on a year-on-year (YoY) basis. The expenses were up by 0.5% YoY during the same period.
  • The company's operating profit increased by 55.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 3QFY19 as against 6.7% in 3QFY18.
  • Depreciation charges declined by 15.1% and finance costs declined by 1.6% YoY, respectively.
  • Other income increased by 240.7% YoY during the quarter.
  • Net profit for the quarter increased by 830.6% YoY. Net profit margins during the quarter increased from 0.4% in 3QFY18 to 3.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.9% QoQ during the same period.
  • The company's operating profit declined by 19.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.0% in 3QFY19 as against 13.0% in 2QFY18.
  • Net profit for the quarter declined by 16.7% QoQ, while net profit margins declined from 4.7% in 2QFY18 to 3.7% in 3QFY19.

To see how NAHAR SPINNING M has performed over the last eight quarters, please visit here.

NAHAR SPINNING M Share Price Performance

Over the last one year, NAHAR SPINNING M share price has moved up from Rs 109.2 to Rs 82.8, registering a Loss of Rs 26.5 or around 24.2%.

Overall, the S&P BSE SENSEX is up 4.3% over the year.

Current Valuations

At the current price of Rs 82.8, the price to earnings (P/E) ratio of NAHAR SPINNING M stands at 4.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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