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PRIME SECURITIES Announces Quarterly Results (4QFY19); Net Profit Up 66.1%

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PRIME SECURITIES Announces Quarterly Results (4QFY19); Net Profit Up 66.1%
Tue, 21 May

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

PRIME SECURITIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m271341340.2%403.4%
Other incomeRs m214344.4%81.8%
TurnoverRs m291351382.5%378.9%
ExpensesRs m206258-5.5%187.7%
Gross profitRs m257262-14.0%145.8%
DepreciationRs m01233.3%300.0%
InterestRs m010-50.0%200.0%
Profit before taxRs m277164-9.9%138.1%
TaxRs m-315150.7%
Profit after taxRs m305649-12.8%66.1%
Gross profit margin%94.853.946.3
Effective tax rate%-9.321.323.8
Net profit margin%102.141.635.4
* 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 403.4% on a year-on-year (YoY) basis. The expenses were up by 187.7% YoY during the same period.
  • The company's operating profit increased by 145.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 46.3% in 4QFY19 as against 94.8% in 4QFY18.
  • Depreciation charges increased by 300.0% and finance costs increased by 200.0% YoY, respectively.
  • Other income increased by 81.8% YoY during the quarter.
  • Net profit for the quarter increased by 66.1% YoY. Net profit margins during the quarter declined from 102.1% in 4QFY18 to 35.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.5% QoQ during the same period.
  • The company's operating profit declined by 14.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 46.3% in 4QFY19 as against 53.9% in 3QFY18.
  • Net profit for the quarter declined by 12.8% QoQ, while net profit margins declined from 41.5% in 3QFY18 to 35.4% in 4QFY19.

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 40.9 to Rs 39.7, registering a Loss of Rs 1.3 or around 3.1%.

Overall, the S&P BSE SENSEX is up 13.9% over the year.

Current Valuations

At the current price of Rs 39.7, the price to earnings (P/E) ratio of PRIME SECURITIES stands at 6.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.4 times.

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