PVR LTD Announces Quarterly Results (3QFY20); Net Profit Down 29.7%

Fri, 24 Jan

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

PVR LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-18*	3 Sep-19*	3 Dec-19*	QoQ Change	YoY Change
Net Sales	Rs m	8,431	9,732	9,157	-5.9%	8.6%
Other income	Rs m	143	62	82	31.0%	-42.8%
Turnover	Rs m	8,574	9,794	9,239	-5.7%	7.8%
Expenses	Rs m	6,788	6,551	6,085	-7.1%	-10.4%
Gross profit	Rs m	1,607	3,183	3,074	-3.4%	91.3%
Depreciation	Rs m	514	1,395	1,349	-3.3%	162.2%
Interest	Rs m	379	1,111	1,221	9.9%	222.4%
Profit before tax	Rs m	856	739	586	-20.7%	-31.6%
Tax	Rs m	337	258	221	-14.5%	-34.6%
Profit after tax	Rs m	519	480	365	-24.0%	-29.7%
Gross profit margin	%	19.1	32.7	33.6
Effective tax rate	%	39.4	35.0	37.7
Net profit margin	%	6.1	4.9	3.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 8.6% on a year-on-year (YoY) basis. The expenses were down by 10.4% YoY during the same period.
• The company's operating profit increased by 91.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.6% in 3QFY20 as against 19.1% in 3QFY19.
• Depreciation charges increased by 162.2% and finance costs increased by 222.4% YoY, respectively.
• Other income declined by 42.8% YoY during the quarter.
• Net profit for the quarter declined by 29.7% YoY. Net profit margins during the quarter declined from 6.1% in 3QFY19 to 3.9% in 3QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 5.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.1% QoQ during the same period.
• The company's operating profit declined by 3.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 33.6% in 3QFY20 as against 32.7% in 2QFY19.
• Net profit for the quarter declined by 24.0% QoQ, while net profit margins declined from 4.9% in 2QFY19 to 3.9% in 3QFY20.

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

PVR LTD Share Price Performance

Over the last one year,PVR LTD share price has moved up from Rs 1,603.8 to Rs 1,958.4, registering a Gain of Rs 354.7 or around 22.1%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 8,095.7 (down 0.3%). Over the last one year it has moved up from 7,314.4 to 8,095.7, a gain of 781 points (up 10.7%).

Overall, the S&P BSE SENSEX is up 15.3% over the year.

Current Valuations

At the current price of Rs 1,958.4, the price to earnings (P/E) ratio of PVR LTD stands at 54.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.