SYMPHONY LTD Announces Quarterly Results (3QFY19); Net Profit Down 44.2%

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SYMPHONY LTD Announces Quarterly Results (3QFY19); Net Profit Down 44.2%
Wed, 13 Feb

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

SYMPHONY LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,1762,2302,4007.6%10.3%
Other incomeRs m809013044.4%61.7%
TurnoverRs m2,2572,3202,5309.1%12.1%
ExpensesRs m1,3081,8001,9709.4%50.6%
Gross profitRs m86839043010.3%-50.5%
DepreciationRs m123020-33.3%69.5%
InterestRs m01030200.0%0.0%
Profit before taxRs m93744051015.9%-45.5%
TaxRs m2741301407.7%-48.8%
Profit after taxRs m66331037019.4%-44.2%
Gross profit margin%39.917.517.9
Effective tax rate%29.229.527.5
Net profit margin%29.413.414.6
* 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 10.3% on a year-on-year (YoY) basis. The expenses were up by 50.6% YoY during the same period.
  • The company's operating profit declined by 50.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.9% in 3QFY19 as against 39.9% in 3QFY18.
  • Depreciation charges increased by 69.5% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 61.7% YoY during the quarter.
  • Net profit for the quarter declined by 44.2% YoY. Net profit margins during the quarter declined from 29.4% in 3QFY18 to 14.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.4% QoQ during the same period.
  • The company's operating profit increased by 10.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.9% in 3QFY19 as against 17.5% in 2QFY18.
  • Net profit for the quarter increased by 19.4% QoQ, while net profit margins increased from 13.4% in 2QFY18 to 14.6% in 3QFY19.

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 1,724.2 to Rs 1,173.1, registering a Loss of Rs 551.1 or around 32.0%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 21,346.0 (down 0.9%). Over the last one year it has moved up from 21,309.6 to 21,346.0, a gain of 36 points (up 0.2%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 1,173.1, the price to earnings (P/E) ratio of SYMPHONY LTD stands at 63.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.4 times.

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