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VAKRANGEE LTD. Announces Quarterly Results (2QFY19); Net Profit Down 99.0%

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VAKRANGEE LTD. Announces Quarterly Results (2QFY19); Net Profit Down 99.0%
Tue, 6 Nov

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

VAKRANGEE LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m15,50810,1152,985-70.5%-80.8%
Other incomeRs m3916121634.3%459.2%
TurnoverRs m15,54710,2763,201-68.9%-79.4%
ExpensesRs m12,63310,0253,128-68.8%-75.2%
Gross profitRs m2,87490-144-259.5%-105.0%
DepreciationRs m71818-0.7%166.5%
InterestRs m27000.0%-100.0%
Profit before taxRs m2,87923354-76.9%-98.1%
TaxRs m98110134-66.0%-96.5%
Profit after taxRs m1,89813119-85.2%-99.0%
Gross profit margin%18.50.9-4.8
Effective tax rate%34.143.664.0
Net profit margin%12.21.30.6
* 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 fell 80.8% on a year-on-year (YoY) basis. The expenses were down by 75.2% YoY during the same period.
  • The company's operating profit declined by 105.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.8% in 2QFY19 as against 18.5% in 2QFY18.
  • Depreciation charges increased by 166.5% and finance costs declined by 100.0% YoY, respectively.
  • Other income increased by 459.2% YoY during the quarter.
  • Net profit for the quarter declined by 99.0% YoY. Net profit margins during the quarter declined from 12.2% in 2QFY18 to 0.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 70.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 68.8% QoQ during the same period.
  • The company's operating profit declined by 259.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.8% in 2QFY19 as against 0.9% in 1QFY18.
  • Net profit for the quarter declined by 85.2% QoQ, while net profit margins declined from 1.3% in 1QFY18 to 0.6% in 2QFY19.

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

VAKRANGEE LTD. Share Price Performance

Over the last one year, VAKRANGEE LTD. share price has moved up from Rs 275.1 to Rs 23.9, registering a Loss of Rs 251.3 or around 91.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,214.1 (up 0.9%). Over the last one year it has moved up from 10,474.4 to 14,214.1, a gain of 3,740 points (up 35.7%).

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

Current Valuations

At the current price of Rs 23.9, the price to earnings (P/E) ratio of VAKRANGEE LTD. stands at 7.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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