PVR LTD Announces Quarterly Results (1QFY20); Net Profit Down 68.9%

Fri, 18 Oct

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

PVR LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	6,963	8,376	8,804	5.1%	26.4%
Other income	Rs m	43	85	68	-20.5%	58.9%
Turnover	Rs m	7,005	8,462	8,872	4.8%	26.6%
Expenses	Rs m	5,591	6,768	6,018	-11.1%	7.6%
Gross profit	Rs m	1,373	1,608	2,771	72.3%	101.8%
Depreciation	Rs m	401	549	1,259	129.1%	213.6%
Interest	Rs m	208	395	1,314	232.6%	531.6%
Profit before tax	Rs m	806	749	266	-64.5%	-67.1%
Tax	Rs m	283	265	103	-61.1%	-63.7%
Profit after tax	Rs m	523	484	163	-66.4%	-68.9%
Gross profit margin	%	19.7	19.2	31.5
Effective tax rate	%	35.1	35.3	38.7
Net profit margin	%	7.5	5.7	1.8

Year-on-Year Performance:

• The company's operating income during the quarter grew 26.4% on a year-on-year (YoY) basis. The expenses were up by 7.6% YoY during the same period.
• The company's operating profit increased by 101.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.5% in 1QFY20 as against 19.7% in 1QFY19.
• Depreciation charges increased by 213.6% and finance costs increased by 531.6% YoY, respectively.
• Other income increased by 58.9% YoY during the quarter.
• Net profit for the quarter declined by 68.9% YoY. Net profit margins during the quarter declined from 7.5% in 1QFY19 to 1.8% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.1% QoQ during the same period.
• The company's operating profit increased by 72.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 31.5% in 1QFY20 as against 19.2% in 4QFY19.
• Net profit for the quarter declined by 66.4% QoQ, while net profit margins declined from 5.7% in 4QFY19 to 1.8% in 1QFY20.

To see how PVR LTD has performed over the last eight quarters,please visit here.

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PVR LTD Share Price Performance

Over the last one year,PVR LTD share price has moved up from Rs 1,312.8 to Rs 1,828.0, registering a Gain of Rs 515.3 or around 39.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,540.7 (down 0.1%). Over the last one year it has moved up from 7,278.2 to 7,540.7, a gain of 263 points (up 3.6%).

Overall, the S&P BSE SENSEX is up 12.7% over the year.

Current Valuations

At the current price of Rs 1,828.0, the price to earnings (P/E) ratio of PVR LTD stands at 46.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.0 times.