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VAKRANGEE LTD. Announces Quarterly Results (3QFY19); Net Profit Down 98.5%

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VAKRANGEE LTD. Announces Quarterly Results (3QFY19); Net Profit Down 98.5%
Mon, 28 Jan

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

VAKRANGEE LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m18,0242,985968-67.6%-94.6%
Other incomeRs m822162191.2%167.7%
TurnoverRs m18,1063,2011,187-62.9%-93.4%
ExpensesRs m14,4463,1281,113-64.4%-92.3%
Gross profitRs m3,579-144-127-103.6%
DepreciationRs m8182112.9%159.9%
InterestRs m13000.0%-100.0%
Profit before taxRs m3,639547131.4%-98.1%
TaxRs m1,1733434-2.2%-97.1%
Profit after taxRs m2,467193791.1%-98.5%
Gross profit margin%19.9-4.8-13.1
Effective tax rate%32.264.047.6
Net profit margin%13.60.63.1
* 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 94.6% on a year-on-year (YoY) basis. The expenses were down by 92.3% YoY during the same period.
  • The company's operating profit declined by 103.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 3QFY19 as against 19.9% in 3QFY18.
  • Depreciation charges increased by 159.9% and finance costs declined by 100.0% YoY, respectively.
  • Other income increased by 167.7% YoY during the quarter.
  • Net profit for the quarter declined by 98.5% YoY. Net profit margins during the quarter declined from 13.6% in 3QFY18 to 3.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 67.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 64.4% QoQ during the same period.
  • The company's operating profit declined by 11.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 3QFY19 as against 4.8% in 2QFY18.
  • Net profit for the quarter increased by 91.1% QoQ, while net profit margins increased from 0.6% in 2QFY18 to 3.1% in 3QFY19.

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 505.4 to Rs 41.2, registering a Loss of Rs 464.2 or around 91.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,812.5 (up 0.2%). Over the last one year it has moved up from 12,688.5 to 14,812.5, a gain of 2,124 points (up 16.7%).

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 41.2, the price to earnings (P/E) ratio of VAKRANGEE LTD. stands at 46.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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