SHIPPING CORP. Announces Quarterly Results (4QFY19); Net Profit Down 81.9%

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SHIPPING CORP. Announces Quarterly Results (4QFY19); Net Profit Down 81.9%
Thu, 30 May

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

SHIPPING CORP. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m9,16910,74910,190-5.2%11.1%
Other incomeRs m3641,624836-48.6%129.8%
TurnoverRs m9,53312,37311,025-10.9%15.7%
ExpensesRs m7,7728,0338,3333.7%7.2%
Gross profitRs m1,3972,7161,857-31.6%32.9%
DepreciationRs m1,5291,7001,7010.1%11.3%
InterestRs m470634620-2.3%32.0%
Profit before taxRs m-2382,005371-81.5%
TaxRs m-2,783200-89-144.3%
Profit after taxRs m2,5451,805460-74.5%-81.9%
Gross profit margin%15.225.318.2
Effective tax rate%1,169.210.0-23.9
Net profit margin%26.714.64.2
* 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 11.1% on a year-on-year (YoY) basis. The expenses were up by 7.2% YoY during the same period.
  • The company's operating profit increased by 32.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.2% in 4QFY19 as against 15.2% in 4QFY18.
  • Depreciation charges increased by 11.3% and finance costs increased by 32.0% YoY, respectively.
  • Other income increased by 129.8% YoY during the quarter.
  • Net profit for the quarter declined by 81.9% YoY. Net profit margins during the quarter declined from 26.7% in 4QFY18 to 4.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit declined by 31.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.2% in 4QFY19 as against 25.3% in 3QFY18.
  • Net profit for the quarter declined by 74.5% QoQ, while net profit margins declined from 14.6% in 3QFY18 to 4.2% in 4QFY19.

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

SHIPPING CORP. Share Price Performance

Over the last one year, SHIPPING CORP. share price has moved up from Rs 65.1 to Rs 34.0, registering a Loss of Rs 31.1 or around 47.7%.

Overall, the S&P BSE SENSEX is up 13.6% over the year.

Current Valuations

At the current price of Rs 34.0, the price to earnings (P/E) ratio of SHIPPING CORP. stands at 12.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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Aug 19, 2019 | Updated on Aug 19, 2019

For the quarter ended June 2019, SHIPPING CORP. has posted a net loss of Rs 394 mn. Sales on the other hand came in at Rs 9 bn (up 4.3% YoY). Read on for a complete analysis of SHIPPING CORP.'s quarterly results.

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SHIPPING CORP. Announces Quarterly Results (3QFY19); Net Profit Up 119.7% (Quarterly Result Update)

Feb 12, 2019 | Updated on Feb 12, 2019

For the quarter ended December 2018, SHIPPING CORP. has posted a net profit of Rs 2 bn (up 119.7% YoY). Sales on the other hand came in at Rs 11 bn (up 22.2% YoY). Read on for a complete analysis of SHIPPING CORP.'s quarterly results.

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Jan 20, 2020 (Close)

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