VIP INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 37.7%

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VIP INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 37.7%
Fri, 16 Nov

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

VIP INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,0925,1784,018-22.4%29.9%
Other incomeRs m27172023.6%-25.3%
TurnoverRs m3,1205,1954,038-22.3%29.5%
ExpensesRs m2,7264,2163,507-16.8%28.7%
Gross profitRs m366962511-46.9%39.4%
DepreciationRs m3037396.0%31.0%
InterestRs m000100.0%100.0%
Profit before taxRs m364942492-47.8%35.2%
TaxRs m125308164-46.9%30.5%
Profit after taxRs m238634328-48.2%37.7%
Gross profit margin%11.818.612.7
Effective tax rate%34.532.733.3
Net profit margin%7.612.28.1
* 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 grew 29.9% on a year-on-year (YoY) basis. The expenses were up by 28.7% YoY during the same period.
  • The company's operating profit increased by 39.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.7% in 2QFY19 as against 11.8% in 2QFY18.
  • Depreciation charges increased by 31.0% and finance costs increased by 100.0% YoY, respectively.
  • Other income declined by 25.3% YoY during the quarter.
  • Net profit for the quarter increased by 37.7% YoY. Net profit margins during the quarter increased from 7.6% in 2QFY18 to 8.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 22.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 16.8% QoQ during the same period.
  • The company's operating profit declined by 46.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.7% in 2QFY19 as against 18.6% in 1QFY18.
  • Net profit for the quarter declined by 48.2% QoQ, while net profit margins declined from 12.2% in 1QFY18 to 8.1% in 2QFY19.

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

VIP INDUSTRIES Share Price Performance

Over the last one year, VIP INDUSTRIES share price has moved up from Rs 309.0 to Rs 459.2, registering a Gain of Rs 150.3 or around 48.6%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 20,108.1 (up 0.2%). Over the last one year it has moved up from 20,042.4 to 20,108.1, a gain of 66 points (up 0.3%).

Overall, the S&P BSE SENSEX is up 8.3% over the year.

Current Valuations

At the current price of Rs 459.2, the price to earnings (P/E) ratio of VIP INDUSTRIES stands at 41.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.3 times.

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