VAKRANGEE Announces Quarterly Results (1QFY20); Net Profit Down 40.5%

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VAKRANGEE Announces Quarterly Results (1QFY20); Net Profit Down 40.5%
Fri, 16 Aug

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

VAKRANGEE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m10,1151,0151,26825.0%-87.5%
Other incomeRs m1612042050.5%27.5%
TurnoverRs m10,2761,2191,47320.8%-85.7%
ExpensesRs m10,0251,0331,28024.0%-87.2%
Gross profitRs m90-18-13-113.9%
DepreciationRs m18303516.7%90.3%
InterestRs m0000.0%0.0%
Profit before taxRs m2331561580.9%-32.3%
TaxRs m1019279-13.3%-21.6%
Profit after taxRs m131657821.1%-40.5%
Gross profit margin%0.9-1.8-1.0
Effective tax rate%43.658.750.4
Net profit margin%1.35.35.3
* 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 fell 87.5% on a year-on-year (YoY) basis. The expenses were down by 87.2% YoY during the same period.
  • The company's operating profit declined by 113.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.0% in 1QFY20 as against 0.9% in 1QFY19.
  • Depreciation charges increased by 90.3% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 27.5% YoY during the quarter.
  • Net profit for the quarter declined by 40.5% YoY. Net profit margins during the quarter increased from 1.3% in 1QFY19 to 5.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 25.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 24.0% QoQ during the same period.
  • The company's operating profit increased by 30.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 1.0% in 1QFY20 as against 1.8% in 4QFY19.
  • Net profit for the quarter increased by 21.1% QoQ, while net profit margins declined from 5.3% in 4QFY19 to 5.3% in 1QFY20.

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

VAKRANGEE Share Price Performance

Over the last one year,VAKRANGEE share price has moved down from Rs 46.2 to Rs 35.0, registering a Loss of Rs 11.2 or around 24.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,433.9 (down 1.1%). Over the last one year it has moved up from 15,015.5 to 15,433.9, a gain of 418 points (up 2.8%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 35.0, the price to earnings (P/E) ratio of VAKRANGEE stands at 186.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.4 times.

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