PI INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 33.0%

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PI INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 33.0%
Fri, 15 Feb

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

PI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5,3777,2307,075-2.1%31.6%
Other incomeRs m16112415222.6%-5.5%
TurnoverRs m5,5387,3547,227-1.7%30.5%
ExpensesRs m4,3305,8845,589-5.0%29.1%
Gross profitRs m1,0481,3461,48610.4%41.8%
DepreciationRs m2112282342.6%10.7%
InterestRs m1414157.1%6.4%
Profit before taxRs m9831,2281,38913.1%41.3%
TaxRs m17728431611.3%78.9%
Profit after taxRs m8079441,07313.7%33.0%
Gross profit margin%19.518.621.0
Effective tax rate%18.023.122.8
Net profit margin%14.612.814.8
* 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 31.6% on a year-on-year (YoY) basis. The expenses were up by 29.1% YoY during the same period.
  • The company's operating profit increased by 41.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.0% in 3QFY19 as against 19.5% in 3QFY18.
  • Depreciation charges increased by 10.7% and finance costs increased by 6.4% YoY, respectively.
  • Other income declined by 5.5% YoY during the quarter.
  • Net profit for the quarter increased by 33.0% YoY. Net profit margins during the quarter increased from 14.6% in 3QFY18 to 14.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.0% QoQ during the same period.
  • The company's operating profit increased by 10.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.0% in 3QFY19 as against 18.6% in 2QFY18.
  • Net profit for the quarter increased by 13.7% QoQ, while net profit margins increased from 12.8% in 2QFY18 to 14.8% in 3QFY19.

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

PI INDUSTRIES Share Price Performance

Over the last one year, PI INDUSTRIES share price has moved up from Rs 838.9 to Rs 889.2, registering a Gain of Rs 50.3 or around 6.0%.

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

Current Valuations

At the current price of Rs 889.2, the price to earnings (P/E) ratio of PI INDUSTRIES stands at 31.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.

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