SUBEX LTD Announces Quarterly Results (3QFY19); Net Profit Down 42.9%

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SUBEX LTD Announces Quarterly Results (3QFY19); Net Profit Down 42.9%
Wed, 30 Jan

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

SUBEX LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m864881823-6.6%-4.8%
Other incomeRs m32358.8%-3.6%
TurnoverRs m867882826-6.4%-4.8%
ExpensesRs m7227297604.3%5.2%
Gross profitRs m14215263-58.6%-55.7%
DepreciationRs m161212-4.9%-25.2%
InterestRs m285517.4%-80.9%
Profit before taxRs m10113749-64.5%-52.0%
TaxRs m657428-62.0%-57.0%
Profit after taxRs m366321-67.4%-42.9%
Gross profit margin%16.417.27.6
Effective tax rate%64.353.957.6
Net profit margin%4.27.22.5
* 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 fell 4.8% on a year-on-year (YoY) basis. The expenses were up by 5.2% YoY during the same period.
  • The company's operating profit declined by 55.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 3QFY19 as against 16.4% in 3QFY18.
  • Depreciation charges declined by 25.2% and finance costs declined by 80.9% YoY, respectively.
  • Other income declined by 3.6% YoY during the quarter.
  • Net profit for the quarter declined by 42.9% YoY. Net profit margins during the quarter declined from 4.2% in 3QFY18 to 2.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.3% QoQ during the same period.
  • The company's operating profit declined by 58.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.6% in 3QFY19 as against 17.2% in 2QFY18.
  • Net profit for the quarter declined by 67.4% QoQ, while net profit margins declined from 7.1% in 2QFY18 to 2.5% in 3QFY19.

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

SUBEX LTD Share Price Performance

Over the last one year, SUBEX LTD share price has moved up from Rs 10.0 to Rs 6.9, registering a Loss of Rs 3.1 or around 31.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,908.3 (down 0.2%). Over the last one year it has moved up from 12,697.3 to 14,908.3, a gain of 2,211 points (up 17.4%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 6.9, the price to earnings (P/E) ratio of SUBEX LTD stands at 4.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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