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PRAKASH INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 39.4%

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PRAKASH INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 39.4%
Mon, 25 Feb

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

PRAKASH INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,2609,50310,2587.9%41.3%
Other incomeRs m15203575.4%131.1%
TurnoverRs m7,2759,52310,2938.1%41.5%
ExpensesRs m5,7557,6038,2378.3%43.1%
Gross profitRs m1,5051,9002,0216.3%34.3%
DepreciationRs m3183443532.5%11.2%
InterestRs m1892682783.6%47.1%
Profit before taxRs m1,0141,3071,4259.0%40.6%
TaxRs m00110.0%0.0%
Profit after taxRs m1,0141,3071,4138.1%39.4%
Gross profit margin%20.720.019.7
Effective tax rate%0.00.00.8
Net profit margin%13.913.713.7
* 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 41.3% on a year-on-year (YoY) basis. The expenses were up by 43.1% YoY during the same period.
  • The company's operating profit increased by 34.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.7% in 3QFY19 as against 20.7% in 3QFY18.
  • Depreciation charges increased by 11.2% and finance costs increased by 47.1% YoY, respectively.
  • Other income increased by 131.1% YoY during the quarter.
  • Net profit for the quarter increased by 39.4% YoY. Net profit margins during the quarter declined from 13.9% in 3QFY18 to 13.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.3% QoQ during the same period.
  • The company's operating profit declined by 6.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.7% in 3QFY19 as against 20.0% in 2QFY18.
  • Net profit for the quarter increased by 8.1% QoQ, while net profit margins increased from 13.7% in 2QFY18 to 13.7% in 3QFY19.

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

PRAKASH INDUSTRIES Share Price Performance

Over the last one year, PRAKASH INDUSTRIES share price has moved up from Rs 216.6 to Rs 93.0, registering a Loss of Rs 123.6 or around 57.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 21,274.1 (down 0.0%). Over the last one year it has moved up from 20,969.0 to 21,274.1, a gain of 305 points (up 1.5%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 93.0, the price to earnings (P/E) ratio of PRAKASH INDUSTRIES stands at 2.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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