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PRAJ IND.LTD Announces Quarterly Results (3QFY19); Net Profit Up 197.9%

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PRAJ IND.LTD Announces Quarterly Results (3QFY19); Net Profit Up 197.9%
Tue, 29 Jan

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

PRAJ IND.LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,4832,5103,30331.6%33.0%
Other incomeRs m16517445.3%378.1%
TurnoverRs m2,4982,5613,37731.9%35.2%
ExpensesRs m2,3152,3723,02427.5%30.6%
Gross profitRs m168138279101.5%66.4%
DepreciationRs m616056-5.2%-8.0%
InterestRs m312100.0%-25.0%
Profit before taxRs m119129294128.6%148.1%
TaxRs m43397077.8%61.3%
Profit after taxRs m7589224150.9%197.9%
Gross profit margin%6.75.58.4
Effective tax rate%36.530.523.7
Net profit margin%3.03.56.6
* 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 grew 33.0% on a year-on-year (YoY) basis. The expenses were up by 30.6% YoY during the same period.
  • The company's operating profit increased by 66.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.4% in 3QFY19 as against 6.7% in 3QFY18.
  • Depreciation charges declined by 8.0% and finance costs declined by 25.0% YoY, respectively.
  • Other income increased by 378.1% YoY during the quarter.
  • Net profit for the quarter increased by 197.9% YoY. Net profit margins during the quarter increased from 3.0% in 3QFY18 to 6.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 31.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 27.5% QoQ during the same period.
  • The company's operating profit increased by 101.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 8.4% in 3QFY19 as against 5.5% in 2QFY18.
  • Net profit for the quarter increased by 150.9% QoQ, while net profit margins increased from 3.5% in 2QFY18 to 6.6% in 3QFY19.

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

PRAJ IND.LTD Share Price Performance

Over the last one year, PRAJ IND.LTD share price has moved up from Rs 110.5 to Rs 119.7, registering a Gain of Rs 9.3 or around 8.4%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,030.9 (down 0.4%). Over the last one year it has moved down from 20,670.1 to 17,030.9, a gain of 3,639 points (down 17.6%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 119.7, the price to earnings (P/E) ratio of PRAJ IND.LTD stands at 35.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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