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- UPL Announces Quarterly Results (2QFY20); Net Profit Down 60.9%
UPL Announces Quarterly Results (2QFY20); Net Profit Down 60.9%
Thu, 14 Nov
UPL has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:
UPL Quarterly Financials
| No. of Mths Qtr. Ending | 3 Sep-18* | 3 Jun-19* | 3 Sep-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 42,570 | 79,060 | 78,170 | -1.1% | 83.6% |
| Other income | Rs m | 320 | 390 | 240 | -38.5% | -25.0% |
| Turnover | Rs m | 42,890 | 79,450 | 78,410 | -1.3% | 82.8% |
| Expenses | Rs m | 34,700 | 66,660 | 63,700 | -4.4% | 83.6% |
| Gross profit | Rs m | 7,300 | 11,680 | 11,420 | -2.2% | 56.4% |
| Depreciation | Rs m | 1,810 | 5,770 | 6,080 | 5.4% | 235.9% |
| Interest | Rs m | 1,810 | 3,980 | 3,810 | -4.3% | 110.5% |
| Profit before tax | Rs m | 4,000 | 2,320 | 1,770 | -23.7% | -55.8% |
| Tax | Rs m | 1,160 | 120 | 660 | 450.0% | -43.1% |
| Profit after tax | Rs m | 2,840 | 2,200 | 1,110 | -49.5% | -60.9% |
| Gross profit margin | % | 17.1 | 14.8 | 14.6 | ||
| Effective tax rate | % | 29.0 | 5.2 | 37.3 | ||
| Net profit margin | % | 6.6 | 2.8 | 1.4 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 83.6% on a year-on-year (YoY) basis. The expenses were up by 83.6% YoY during the same period.
- The company's operating profit increased by 56.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 2QFY20 as against 17.1% in 2QFY19.
- Depreciation charges increased by 235.9% and finance costs increased by 110.5% YoY, respectively.
- Other income declined by 25.0% YoY during the quarter.
- Net profit for the quarter declined by 60.9% YoY. Net profit margins during the quarter declined from 6.6% in 2QFY19 to 1.4% in 2QFY20.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.4% QoQ during the same period.
- The company's operating profit declined by 2.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.6% in 2QFY20 as against 14.8% in 1QFY19.
- Net profit for the quarter declined by 49.5% QoQ, while net profit margins declined from 2.8% in 1QFY19 to 1.4% in 2QFY20.
To see how UPL has performed over the last eight quarters,please visit here.
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UPL Share Price Performance
Over the last one year,UPL share price has moved up from Rs 506.6 to Rs 536.6, registering a Gain of Rs 29.9 or around 5.9%.
Overall, the S&P BSE SENSEX is up 14.4% over the year.
Current Valuations
At the current price of Rs 536.6, the price to earnings (P/E) ratio of UPL stands at 39.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.
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