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RICO AUTO Announces Quarterly Results (2QFY19); Net Profit Up 44.6%

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RICO AUTO Announces Quarterly Results (2QFY19); Net Profit Up 44.6%
Mon, 12 Nov

RICO AUTO has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

RICO AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,0003,4913,6123.5%20.4%
Other incomeRs m453830-20.5%-32.5%
TurnoverRs m3,0453,5303,6433.2%19.6%
ExpensesRs m2,6733,0963,1872.9%19.2%
Gross profitRs m30635542319.2%38.1%
DepreciationRs m1331411453.3%9.4%
InterestRs m49566719.4%35.9%
Profit before taxRs m16919624122.9%42.6%
TaxRs m50446955.3%37.8%
Profit after taxRs m11915217313.5%44.6%
Gross profit margin%10.210.211.7
Effective tax rate%29.422.528.4
Net profit margin%3.94.34.7
* 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 20.4% on a year-on-year (YoY) basis. The expenses were up by 19.2% YoY during the same period.
  • The company's operating profit increased by 38.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.7% in 2QFY19 as against 10.2% in 2QFY18.
  • Depreciation charges increased by 9.4% and finance costs increased by 35.9% YoY, respectively.
  • Other income declined by 32.5% YoY during the quarter.
  • Net profit for the quarter increased by 44.6% YoY. Net profit margins during the quarter increased from 3.9% in 2QFY18 to 4.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.9% QoQ during the same period.
  • The company's operating profit increased by 19.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.7% in 2QFY19 as against 10.2% in 1QFY18.
  • Net profit for the quarter increased by 13.5% QoQ, while net profit margins increased from 4.3% in 1QFY18 to 4.7% in 2QFY19.

To see how RICO AUTO has performed over the last eight quarters, please visit here.

RICO AUTO Share Price Performance

Over the last one year, RICO AUTO share price has moved up from Rs 94.5 to Rs 71.7, registering a Loss of Rs 22.8 or around 24.1%.

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 71.7, the price to earnings (P/E) ratio of RICO AUTO stands at 15.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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