PRIME SECURITIES Announces Quarterly Results (3QFY19); Net Profit Up 59.2%

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PRIME SECURITIES Announces Quarterly Results (3QFY19); Net Profit Up 59.2%
Fri, 22 Feb

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

PRIME SECURITIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m659413443.3%107.9%
Other incomeRs m531-71.9%-81.3%
TurnoverRs m699713539.5%94.8%
ExpensesRs m20496225.9%209.0%
Gross profitRs m40457262.5%79.0%
DepreciationRs m011140.0%200.0%
InterestRs m0110.0%0.0%
Profit before taxRs m45477153.2%59.4%
TaxRs m10101560.0%60.0%
Profit after taxRs m35375651.5%59.2%
Gross profit margin%62.647.553.9
Effective tax rate%21.220.421.3
Net profit margin%50.938.341.6
* 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 107.9% on a year-on-year (YoY) basis. The expenses were up by 209.0% YoY during the same period.
  • The company's operating profit increased by 79.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 53.9% in 3QFY19 as against 62.6% in 3QFY18.
  • Depreciation charges increased by 200.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 81.3% YoY during the quarter.
  • Net profit for the quarter increased by 59.2% YoY. Net profit margins during the quarter declined from 50.9% in 3QFY18 to 41.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 43.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 25.9% QoQ during the same period.
  • The company's operating profit increased by 62.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 53.9% in 3QFY19 as against 47.5% in 2QFY18.
  • Net profit for the quarter increased by 51.5% QoQ, while net profit margins increased from 38.1% in 2QFY18 to 41.6% in 3QFY19.

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 45.5 to Rs 41.9, registering a Loss of Rs 3.6 or around 7.8%.

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 41.9, the price to earnings (P/E) ratio of PRIME SECURITIES stands at 7.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 181.8 times.

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