PVR LTD Announces Quarterly Results (4QFY19); Net Profit Up 82.5%

Mon, 13 May

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

PVR LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	5,849	8,431	8,376	-0.6%	43.2%
Other income	Rs m	75	143	85	-40.3%	13.0%
Turnover	Rs m	5,924	8,574	8,462	-1.3%	42.8%
Expenses	Rs m	4,905	6,788	6,768	-0.3%	38.0%
Gross profit	Rs m	947	1,607	1,608	0.1%	69.8%
Depreciation	Rs m	394	514	549	6.8%	39.5%
Interest	Rs m	210	379	395	4.3%	88.1%
Profit before tax	Rs m	419	856	749	-12.6%	78.9%
Tax	Rs m	153	337	265	-21.6%	72.7%
Profit after tax	Rs m	265	519	484	-6.7%	82.5%
Gross profit margin	%	16.2	19.1	19.2
Effective tax rate	%	36.6	39.4	35.3
Net profit margin	%	4.5	6.1	5.7

Year-on-Year Performance:

• The company's operating income during the quarter grew 43.2% on a year-on-year (YoY) basis. The expenses were up by 38.0% YoY during the same period.
• The company's operating profit increased by 69.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.2% in 4QFY19 as against 16.2% in 4QFY18.
• Depreciation charges increased by 39.5% and finance costs increased by 88.1% YoY, respectively.
• Other income increased by 13.0% YoY during the quarter.
• Net profit for the quarter increased by 82.5% YoY. Net profit margins during the quarter increased from 4.5% in 4QFY18 to 5.7% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.3% QoQ during the same period.
• The company's operating profit increased by 0.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.2% in 4QFY19 as against 19.1% in 3QFY18.
• Net profit for the quarter declined by 6.7% QoQ, while net profit margins declined from 6.1% in 3QFY18 to 5.7% in 4QFY19.

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 1,413.9 to Rs 1,738.9, registering a Gain of Rs 325.0 or around 23.0%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,679.5 (up 0.8%). Over the last one year it has moved up from 6,879.5 to 7,679.5, a gain of 800 points (up 11.6%).

Overall, the S&P BSE SENSEX is up 6.5% over the year.

Current Valuations

At the current price of Rs 1,738.9, the price to earnings (P/E) ratio of PVR LTD stands at 38.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.7 times.