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PRIME SECURITIES Announces Quarterly Results (1QFY19); Net Profit Down 37.2%

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PRIME SECURITIES Announces Quarterly Results (1QFY19); Net Profit Down 37.2%
Tue, 21 Aug

PRIME SECURITIES has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

PRIME SECURITIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m792797261.4%22.2%
Other incomeRs m12322.7%350.0%
TurnoverRs m802999243.3%24.6%
ExpensesRs m202064215.3%226.5%
Gross profitRs m60253328.5%-45.5%
DepreciationRs m00150.0%100.0%
InterestRs m000100.0%0.0%
Profit before taxRs m60273427.4%-42.6%
TaxRs m16-37-57.1%
Profit after taxRs m443027-7.1%-37.2%
Gross profit margin%75.494.833.7
Effective tax rate%27.2-9.320.3
Net profit margin%54.8102.127.6
* 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 22.2% on a year-on-year (YoY) basis. The expenses were up by 226.5% YoY during the same period.
  • The company's operating profit declined by 45.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.7% in 1QFY19 as against 75.4% in 1QFY18.
  • Depreciation charges and finance costs increased by 100.0% YoY and 0.0% YoY, respectively.
  • Other income increased by 350.0% YoY during the quarter.
  • Net profit for the quarter declined by 37.2% YoY. Net profit margins during the quarter declined from 54.8% in 1QFY18 to 27.6% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 261.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 215.3% QoQ during the same period.
  • The company's operating profit declined by 28.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 33.7% in 1QFY19 as against 94.8% in 4QFY18.
  • Net profit for the quarter declined by 7.1% QoQ, while net profit margins declined from 103.4% in 4QFY18 to 27.6% in 1QFY19.

To see how PRIME SECURITIES has performed over the last eight quarters, please visit here.

PRIME SECURITIES Share Price Performance

Over the last one year, PRIME SECURITIES share price has moved up from Rs 35.6 to Rs 41.0, registering a Gain of Rs 5.5 or around 15.3%.

Overall, the S&P BSE SENSEX is up 22.5% over the year.

Current Valuations

At the current price of Rs 41.0, the price to earnings (P/E) ratio of PRIME SECURITIES stands at 8.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 177.9 times.

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