RAYMOND Announces Quarterly Results (3QFY19); Net Profit Up 53.1%

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RAYMOND Announces Quarterly Results (3QFY19); Net Profit Up 53.1%
Thu, 24 Jan

RAYMOND has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

RAYMOND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m14,84218,47816,752-9.3%12.9%
Other incomeRs m2932803059.2%4.1%
TurnoverRs m15,13618,75717,057-9.1%12.7%
ExpensesRs m13,82716,61315,206-8.5%10.0%
Gross profitRs m1,0151,8581,534-17.5%51.0%
DepreciationRs m430502480-4.4%11.7%
InterestRs m45760370416.9%54.1%
Profit before taxRs m4221,033655-36.7%55.2%
TaxRs m127367204-44.5%60.1%
Profit after taxRs m294666451-32.3%53.1%
Gross profit margin%6.810.19.2
Effective tax rate%30.235.631.1
Net profit margin%1.93.52.6
* 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 12.9% on a year-on-year (YoY) basis. The expenses were up by 10.0% YoY during the same period.
  • The company's operating profit increased by 51.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.2% in 3QFY19 as against 6.8% in 3QFY18.
  • Depreciation charges increased by 11.7% and finance costs increased by 54.1% YoY, respectively.
  • Other income increased by 4.1% YoY during the quarter.
  • Net profit for the quarter increased by 53.1% YoY. Net profit margins during the quarter increased from 1.9% in 3QFY18 to 2.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.5% QoQ during the same period.
  • The company's operating profit declined by 17.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.2% in 3QFY19 as against 10.1% in 2QFY18.
  • Net profit for the quarter declined by 32.3% QoQ, while net profit margins declined from 3.6% in 2QFY18 to 2.6% in 3QFY19.

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

RAYMOND Share Price Performance

Over the last one year, RAYMOND share price has moved up from Rs 1,123.6 to Rs 799.0, registering a Loss of Rs 324.6 or around 28.9%.

Overall, the S&P BSE SENSEX is down 0.1% over the year.

Current Valuations

At the current price of Rs 799.0, the price to earnings (P/E) ratio of RAYMOND stands at 29.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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For the quarter ended September 2019, RAYMOND has posted a net profit of Rs 824 m (up 23.8% YoY). Sales on the other hand came in at Rs 19 bn (up 1.9% YoY). Read on for a complete analysis of RAYMOND's quarterly results.

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Jan 24, 2020 (Close)

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