VIDEOCON INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 19.6%

Wed, 20 Feb

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

VIDEOCON INDUSTRIES Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	3,630	1,863	2,096	12.5%	-42.3%
Other income	Rs m	5,014	143	142	-0.5%	-97.2%
Turnover	Rs m	8,643	2,006	2,237	11.5%	-74.1%
Expenses	Rs m	13,415	2,976	1,616	-45.7%	-88.0%
Gross profit	Rs m	-9,785	-1,113	480
Depreciation	Rs m	979	1,254	1,258	0.3%	28.5%
Interest	Rs m	7,399	9,987	9,594	-3.9%	29.7%
Profit before tax	Rs m	-13,150	-12,212	-10,231
Tax	Rs m	-430	39	0	-100.0%
Profit after tax	Rs m	-12,720	-12,251	-10,231
Gross profit margin	%	-269.6	-59.7	22.9
Effective tax rate	%	3.3	-0.3	0.0
Net profit margin	%	-147.2	-610.8	-457.3

Year-on-Year Performance:

• The company's operating income during the quarter fell 42.3% on a year-on-year (YoY) basis. The expenses were down by 88.0% YoY during the same period.
• The company's operating profit declined by 104.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.9% in 3QFY19 as against 269.6% in 3QFY18.
• Depreciation charges increased by 28.5% and finance costs increased by 29.7% YoY, respectively.
• Other income declined by 97.2% YoY during the quarter.
• Net profit for the quarter increased by 19.6% YoY. Net profit margins during the quarter declined from -147.2% in 3QFY18 to -457.3% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 12.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 45.7% QoQ during the same period.
• The company's operating profit increased by 143.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.9% in 3QFY19 as against 59.7% in 2QFY18.
• Net profit for the quarter increased by 16.5% QoQ, while net profit margins increased from -610.7% in 2QFY18 to -457.3% in 3QFY19.

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

VIDEOCON INDUSTRIES Share Price Performance

Over the last one year, VIDEOCON INDUSTRIES share price has moved up from Rs 17.3 to Rs 2.3, registering a Loss of Rs 15.0 or around 86.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 21,043.6 (up 1.0%). Over the last one year it has moved down from 21,239.0 to 21,043.6, a gain of 195 points (down 0.9%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 2.3, the price to book value (P/BV) ratio of VIDEOCON INDUSTRIES stands at 0.0 times.