SYMPHONY Announces Quarterly Results (3QFY20); Net Profit Up 37.8%

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SYMPHONY Announces Quarterly Results (3QFY20); Net Profit Up 37.8%
Mon, 10 Feb

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

SYMPHONY Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m2,4002,7202,9006.6%20.8%
Other incomeRs m130110100-9.1%-23.1%
TurnoverRs m2,5302,8303,0006.0%18.6%
ExpensesRs m1,9702,0902,2206.2%12.7%
Gross profitRs m4306306807.9%58.1%
DepreciationRs m206030-50.0%50.0%
InterestRs m303020-33.3%-33.3%
Profit before taxRs m51065073012.3%43.1%
TaxRs m14070220214.3%57.1%
Profit after taxRs m370580510-12.1%37.8%
Gross profit margin%17.923.223.4
Effective tax rate%27.510.830.1
Net profit margin%14.620.517.0
* 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 20.8% on a year-on-year (YoY) basis. The expenses were up by 12.7% YoY during the same period.
  • The company's operating profit increased by 58.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.4% in 3QFY20 as against 17.9% in 3QFY19.
  • Depreciation charges increased by 50.0% and finance costs declined by 33.3% YoY, respectively.
  • Other income declined by 23.1% YoY during the quarter.
  • Net profit for the quarter increased by 37.8% YoY. Net profit margins during the quarter increased from 14.6% in 3QFY19 to 17.0% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.2% QoQ during the same period.
  • The company's operating profit increased by 7.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.4% in 3QFY20 as against 23.2% in 2QFY19.
  • Net profit for the quarter declined by 12.1% QoQ, while net profit margins declined from 20.5% in 2QFY19 to 17.0% in 3QFY20.

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

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SYMPHONY Share Price Performance

Over the last one year,SYMPHONY share price has moved up from Rs 1,205.6 to Rs 1,322.0, registering a Gain of Rs 116.5 or around 9.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 26,708.0 (down 1.4%). Over the last one year it has moved up from 21,655.0 to 26,708.0, a gain of 5,053 points (up 23.3%).

Overall, the S&P BSE SENSEX is up 10.5% over the year.

Current Valuations

At the current price of Rs 1,322.0, the price to earnings (P/E) ratio of SYMPHONY stands at 63.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.9 times.

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