PRIME SECURITIES Announces Quarterly Results (1QFY20); Net Profit Up 7.7%

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PRIME SECURITIES Announces Quarterly Results (1QFY20); Net Profit Up 7.7%
Tue, 20 Aug

PRIME SECURITIES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

PRIME SECURITIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m97134106-21.4%9.5%
Other incomeRs m341-75.0%-63.0%
TurnoverRs m99138107-22.9%7.6%
ExpensesRs m64586512.0%2.2%
Gross profitRs m336240-35.2%24.0%
DepreciationRs m12356.3%316.7%
InterestRs m001133.3%250.0%
Profit before taxRs m346438-40.7%10.8%
TaxRs m7159-43.8%22.9%
Profit after taxRs m274930-39.8%7.7%
Gross profit margin%33.746.338.1
Effective tax rate%20.323.822.6
Net profit margin%27.635.427.6
* 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 9.5% on a year-on-year (YoY) basis. The expenses were up by 2.2% YoY during the same period.
  • The company's operating profit increased by 24.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 38.1% in 1QFY20 as against 33.7% in 1QFY19.
  • Depreciation charges increased by 316.7% and finance costs increased by 250.0% YoY, respectively.
  • Other income declined by 63.0% YoY during the quarter.
  • Net profit for the quarter increased by 7.7% YoY. Net profit margins during the quarter increased from 27.6% in 1QFY19 to 27.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 21.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.0% QoQ during the same period.
  • The company's operating profit declined by 35.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 38.1% in 1QFY20 as against 46.3% in 4QFY19.
  • Net profit for the quarter declined by 39.8% QoQ, while net profit margins declined from 35.5% in 4QFY19 to 27.6% in 1QFY20.

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 down from Rs 41.0 to Rs 37.5, registering a Loss of Rs 3.5 or around 8.4%.

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 37.5, the price to earnings (P/E) ratio of PRIME SECURITIES stands at 5.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.8 times.

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