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SRF LTD Announces Quarterly Results (3QFY19); Net Profit Up 26.3%

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SRF LTD Announces Quarterly Results (3QFY19); Net Profit Up 26.3%
Wed, 13 Feb

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

SRF LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m13,97119,15419,6402.5%40.6%
Other incomeRs m20914652-64.1%-75.1%
TurnoverRs m14,18019,29919,6932.0%38.9%
ExpensesRs m11,44416,00616,2281.4%41.8%
Gross profitRs m2,5273,1483,4128.4%35.0%
DepreciationRs m7708809325.9%21.0%
InterestRs m2395005448.8%128.0%
Profit before taxRs m1,7271,9141,9883.9%15.1%
TaxRs m415402331-17.5%-20.2%
Profit after taxRs m1,3121,5121,6579.6%26.3%
Gross profit margin%18.116.417.4
Effective tax rate%24.021.016.7
Net profit margin%9.37.88.4
* 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 40.6% on a year-on-year (YoY) basis. The expenses were up by 41.8% YoY during the same period.
  • The company's operating profit increased by 35.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 3QFY19 as against 18.1% in 3QFY18.
  • Depreciation charges increased by 21.0% and finance costs increased by 128.0% YoY, respectively.
  • Other income declined by 75.1% YoY during the quarter.
  • Net profit for the quarter increased by 26.3% YoY. Net profit margins during the quarter declined from 9.3% in 3QFY18 to 8.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.4% QoQ during the same period.
  • The company's operating profit increased by 8.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.4% in 3QFY19 as against 16.4% in 2QFY18.
  • Net profit for the quarter increased by 9.6% QoQ, while net profit margins increased from 7.8% in 2QFY18 to 8.4% in 3QFY19.

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

SRF LTD Share Price Performance

Over the last one year, SRF LTD share price has moved up from Rs 1,893.2 to Rs 2,196.1, registering a Gain of Rs 302.9 or around 16.0%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 2,196.1, the price to earnings (P/E) ratio of SRF LTD stands at 25.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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Related Views on News

SRF LTD Announces Quarterly Results (2QFY19); Net Profit Up 47.1% (Quarterly Result Update)

Nov 5, 2018 | Updated on Nov 5, 2018

For the quarter ended September 2018, SRF LTD has posted a net profit of Rs 2 bn (up 47.1% YoY). Sales on the other hand came in at Rs 19 bn (up 48.9% YoY). Read on for a complete analysis of SRF LTD's quarterly results.

SRF LTD Announces Quarterly Results (1QFY19); Net Profit Up 28.9% (Quarterly Result Update)

Aug 10, 2018 | Updated on Aug 10, 2018

For the quarter ended June 2018, SRF LTD has posted a net profit of Rs 1 bn (up 28.9% YoY). Sales on the other hand came in at Rs 17 bn (up 25.4% YoY). Read on for a complete analysis of SRF LTD's quarterly results.

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