PVR LTD Announces Quarterly Results (4QFY20); Net Profit Down 253.8%

Wed, 10 Jun

PVR LTD has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

PVR LTD Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-19*	3 Dec-19*	3 Mar-20*	QoQ Change	YoY Change
Net Sales	Rs m	8,376	9,157	6,451	-29.6%	-23.0%
Other income	Rs m	85	82	167	104.3%	95.4%
Turnover	Rs m	8,462	9,239	6,618	-28.4%	-21.8%
Expenses	Rs m	6,768	6,085	4,725	-22.3%	-30.2%
Gross profit	Rs m	1,608	3,074	1,727	-43.8%	7.4%
Depreciation	Rs m	549	1,349	1,422	5.5%	158.9%
Interest	Rs m	395	1,221	1,171	-4.1%	196.5%
Profit before tax	Rs m	749	586	-701	-219.6%	-193.6%
Tax	Rs m	265	221	44	-80.0%	-83.3%
Profit after tax	Rs m	484	365	-745	-304.1%	-253.8%
Gross profit margin	%	19.2	33.6	26.8
Effective tax rate	%	35.3	37.7	-6.3
Net profit margin	%	5.7	3.9	-11.3

Year-on-Year Performance:

• The company's operating income during the quarter fell 23.0% on a year-on-year (YoY) basis. The expenses were down by 30.2% YoY during the same period.
• The company's operating profit increased by 7.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.8% in 4QFY20 as against 19.2% in 4QFY19.
• Depreciation charges increased by 158.9% and finance costs increased by 196.5% YoY, respectively.
• Other income increased by 95.4% YoY during the quarter.
• Net profit for the quarter declined by 253.8% YoY. Net profit margins during the quarter declined from 5.7% in 4QFY19 to -11.3% in 4QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 29.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 22.3% QoQ during the same period.
• The company's operating profit declined by 43.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.8% in 4QFY20 as against 33.6% in 3QFY19.
• Net profit for the quarter declined by 304.1% QoQ, while net profit margins declined from 4.0% in 3QFY19 to -11.3% in 4QFY20.

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 down from Rs 1,760.7 to Rs 1,035.8, registering a Loss of Rs 725.0 or around 41.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,558.3 (up 0.0%). Over the last one year it has moved down from 7,876.6 to 7,558.3, a loss of 318 points (down 4.0%).

Overall, the S&P BSE SENSEX is down 14.4% over the year.

Current Valuations

At the current price of Rs 1,035.8, the price to earnings (P/E) ratio of PVR LTD stands at 162.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.