SYMPHONY Announces Quarterly Results (1QFY20); Net Profit Up 65.0%

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SYMPHONY Announces Quarterly Results (1QFY20); Net Profit Up 65.0%
Fri, 2 Aug

SYMPHONY has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SYMPHONY Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,4602,3502,92024.3%100.0%
Other incomeRs m601101209.1%100.0%
TurnoverRs m1,5202,4603,04023.6%100.0%
ExpensesRs m1,2902,0602,54023.3%96.9%
Gross profitRs m17090380322.2%123.5%
DepreciationRs m203060100.0%200.0%
InterestRs m030300.0%0.0%
Profit before taxRs m210140410192.9%95.2%
TaxRs m1011080-27.3%700.0%
Profit after taxRs m200303301000.0%65.0%
Gross profit margin%11.63.813.0
Effective tax rate%4.878.619.5
Net profit margin%13.21.210.9
* 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 100.0% on a year-on-year (YoY) basis. The expenses were up by 96.9% YoY during the same period.
  • The company's operating profit increased by 123.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.0% in 1QFY20 as against 11.6% in 1QFY19.
  • Depreciation charges increased by 200.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 100.0% YoY during the quarter.
  • Net profit for the quarter increased by 65.0% YoY. Net profit margins during the quarter declined from 13.2% in 1QFY19 to 10.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 24.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 23.3% QoQ during the same period.
  • The company's operating profit increased by 322.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.0% in 1QFY20 as against 3.8% in 4QFY19.
  • Net profit for the quarter increased by 1000.0% QoQ, while net profit margins increased from 1.2% in 4QFY19 to 10.9% in 1QFY20.

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

SYMPHONY Share Price Performance

Over the last one year,SYMPHONY share price has moved up from Rs 1,098.1 to Rs 1,262.0, registering a Gain of Rs 163.9 or around 14.9%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,348.6 (down 0.2%). Over the last one year it has moved up from 21,051.8 to 22,348.6, a gain of 1,297 points (up 6.2%).

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 1,262.0, the price to earnings (P/E) ratio of SYMPHONY stands at 84.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.3 times.

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