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SYMPHONY LTD Announces Quarterly Results (2QFY19); Net Profit Down 38.8%

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SYMPHONY LTD Announces Quarterly Results (2QFY19); Net Profit Down 38.8%
Tue, 6 Nov

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

SYMPHONY LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,8431,4602,23052.7%21.0%
Other incomeRs m104609050.0%-13.7%
TurnoverRs m1,9471,5202,32052.6%19.2%
ExpensesRs m1,2081,2901,80039.5%49.0%
Gross profitRs m635170390129.4%-38.6%
DepreciationRs m11203050.0%183.0%
InterestRs m00100.0%0.0%
Profit before taxRs m729210440109.5%-39.6%
TaxRs m222101301200.0%-41.4%
Profit after taxRs m50720031055.0%-38.8%
Gross profit margin%34.511.617.5
Effective tax rate%30.44.829.5
Net profit margin%26.013.213.4
* 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 21.0% on a year-on-year (YoY) basis. The expenses were up by 49.0% YoY during the same period.
  • The company's operating profit declined by 38.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.5% in 2QFY19 as against 34.5% in 2QFY18.
  • Depreciation charges increased by 183.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 13.7% YoY during the quarter.
  • Net profit for the quarter declined by 38.8% YoY. Net profit margins during the quarter declined from 26.0% in 2QFY18 to 13.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 52.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 39.5% QoQ during the same period.
  • The company's operating profit increased by 129.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.5% in 2QFY19 as against 11.6% in 1QFY18.
  • Net profit for the quarter increased by 55.0% QoQ, while net profit margins increased from 13.2% in 1QFY18 to 13.4% in 2QFY19.

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 1,550.2 to Rs 990.8, registering a Loss of Rs 559.4 or around 36.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 19,612.3 (up 0.1%). Over the last one year it has moved down from 20,201.1 to 19,612.3, a gain of 589 points (down 2.9%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 990.8, the price to earnings (P/E) ratio of SYMPHONY LTD stands at 43.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.3 times.

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