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PC JEWELLER Announces Quarterly Results (2QFY19); Net Profit Down 37.8%

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PC JEWELLER Announces Quarterly Results (2QFY19); Net Profit Down 37.8%
Thu, 15 Nov

PC JEWELLER has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

PC JEWELLER Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m26,22324,23216,351-32.5%-37.6%
Other incomeRs m207322281-12.8%36.0%
TurnoverRs m26,43024,55416,632-32.3%-37.1%
ExpensesRs m23,43821,74814,293-34.3%-39.0%
Gross profitRs m2,7852,4842,058-17.1%-26.1%
DepreciationRs m4943430.2%-12.4%
InterestRs m76482797718.1%27.8%
Profit before taxRs m2,1781,9361,319-31.9%-39.4%
TaxRs m672517382-26.1%-43.2%
Profit after taxRs m1,5061,419937-34.0%-37.8%
Gross profit margin%10.610.312.6
Effective tax rate%30.926.729.0
Net profit margin%5.75.85.6
* 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 fell 37.6% on a year-on-year (YoY) basis. The expenses were down by 39.0% YoY during the same period.
  • The company's operating profit declined by 26.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.6% in 2QFY19 as against 10.6% in 2QFY18.
  • Depreciation charges declined by 12.4% and finance costs increased by 27.8% YoY, respectively.
  • Other income increased by 36.0% YoY during the quarter.
  • Net profit for the quarter declined by 37.8% YoY. Net profit margins during the quarter declined from 5.7% in 2QFY18 to 5.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 32.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 34.3% QoQ during the same period.
  • The company's operating profit increased by 17.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.6% in 2QFY19 as against 10.3% in 1QFY18.
  • Net profit for the quarter declined by 34.0% QoQ, while net profit margins declined from 5.8% in 1QFY18 to 5.6% in 2QFY19.

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

PC JEWELLER Share Price Performance

Over the last one year, PC JEWELLER share price has moved up from Rs 342.4 to Rs 79.2, registering a Loss of Rs 263.2 or around 76.9%.

Overall, the S&P BSE SENSEX is up 7.1% over the year.

Current Valuations

At the current price of Rs 79.2, the price to earnings (P/E) ratio of PC JEWELLER stands at 5.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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