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SYMPHONY LTD Announces Quarterly Results (1QFY19); Net Profit Down 16.8%

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SYMPHONY LTD Announces Quarterly Results (1QFY19); Net Profit Down 16.8%
Thu, 26 Jul

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

SYMPHONY LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m1,2981,5541,460-6.0%12.5%
Other incomeRs m1279260-34.6%-52.6%
TurnoverRs m1,4241,6461,520-7.6%6.7%
ExpensesRs m1,1031,0591,29021.9%16.9%
Gross profitRs m194495170-65.7%-12.6%
DepreciationRs m10112081.8%98.0%
InterestRs m000-100.0%0.0%
Profit before taxRs m311576210-63.5%-32.4%
TaxRs m7015710-93.6%-85.8%
Profit after taxRs m240419200-52.3%-16.8%
Gross profit margin%15.031.911.6
Effective tax rate%22.727.24.8
Net profit margin%16.925.513.2
* 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 12.5% on a year-on-year (YoY) basis. The expenses were up by 16.9% YoY during the same period.
  • The company's operating profit declined by 12.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.6% in 1QFY19 as against 15.0% in 1QFY18.
  • Depreciation charges and finance costs increased by 98.0% YoY and 0.0% YoY, respectively.
  • Other income declined by 52.6% YoY during the quarter.
  • Net profit for the quarter declined by 16.8% YoY. Net profit margins during the quarter declined from 16.9% in 1QFY18 to 13.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.9% QoQ during the same period.
  • The company's operating profit declined by 65.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.6% in 1QFY19 as against 31.9% in 4QFY18.
  • Net profit for the quarter declined by 52.3% QoQ, while net profit margins declined from 25.5% in 4QFY18 to 13.2% in 1QFY19.

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

SYMPHONY LTD Share Price Performance

Over the last one year, SYMPHONY LTD share price has moved up from Rs 1,447.5 to Rs 1,133.0, registering a Loss of Rs 314.5 or around 21.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 20,339.2 (up 0.2%). Over the last one year it has moved up from 16,249.6 to 20,339.2, a gain of 4,090 points (up 25.2%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 1,133.0, the price to earnings (P/E) ratio of SYMPHONY LTD stands at 44.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.3 times.

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