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RICO AUTO Announces Quarterly Results (4QFY19); Net Profit Down 67.4%

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RICO AUTO Announces Quarterly Results (4QFY19); Net Profit Down 67.4%
Mon, 10 Jun

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

RICO AUTO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,3243,3453,4784.0%4.6%
Other incomeRs m14438393.0%487.2%
TurnoverRs m3,3393,3883,5605.1%6.6%
ExpensesRs m2,9382,9813,2278.3%9.8%
Gross profitRs m366325246-24.3%-32.9%
DepreciationRs m1411451460.7%3.5%
InterestRs m58578854.8%52.7%
Profit before taxRs m18216694-43.1%-48.1%
TaxRs m26336-42.8%1604.8%
Profit after taxRs m18010359-43.3%-67.4%
Gross profit margin%11.09.77.1
Effective tax rate%1.237.838.0
Net profit margin%5.43.01.6
* 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 4.6% on a year-on-year (YoY) basis. The expenses were up by 9.8% YoY during the same period.
  • The company's operating profit declined by 32.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.1% in 4QFY19 as against 11.0% in 4QFY18.
  • Depreciation charges increased by 3.5% and finance costs increased by 52.7% YoY, respectively.
  • Other income increased by 487.2% YoY during the quarter.
  • Net profit for the quarter declined by 67.4% YoY. Net profit margins during the quarter declined from 5.4% in 4QFY18 to 1.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.3% QoQ during the same period.
  • The company's operating profit declined by 24.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.1% in 4QFY19 as against 9.7% in 3QFY18.
  • Net profit for the quarter declined by 43.3% QoQ, while net profit margins declined from 3.0% in 3QFY18 to 1.6% in 4QFY19.

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 73.8 to Rs 68.0, registering a Loss of Rs 5.9 or around 7.9%.

Overall, the S&P BSE SENSEX is up 12.6% over the year.

Current Valuations

At the current price of Rs 68.0, the price to earnings (P/E) ratio of RICO AUTO stands at 18.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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For the quarter ended December 2018, RICO AUTO has posted a net profit of Rs 103 m (down 18.6% YoY). Sales on the other hand came in at Rs 3 bn (up 10.3% YoY). Read on for a complete analysis of RICO AUTO's quarterly results.

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