VIP INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Up 0.3%

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VIP INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Up 0.3%
Thu, 14 Nov

VIP INDUSTRIES has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

VIP INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,0185,6424,123-26.9%2.6%
Other incomeRs m2026274.2%32.4%
TurnoverRs m4,0385,6684,150-26.8%2.8%
ExpensesRs m3,5074,3913,460-21.2%-1.3%
Gross profitRs m511766662-13.5%29.7%
DepreciationRs m3919221210.2%444.2%
InterestRs m0537032.4%17375.0%
Profit before taxRs m492547408-25.4%-17.1%
TaxRs m16419679-59.9%-52.0%
Profit after taxRs m328351329-6.2%0.3%
Gross profit margin%12.713.616.1
Effective tax rate%33.335.819.3
Net profit margin%8.16.27.9
* 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 2.6% on a year-on-year (YoY) basis. The expenses were down by 1.3% YoY during the same period.
  • The company's operating profit increased by 29.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY20 as against 12.7% in 2QFY19.
  • Depreciation charges increased by 444.2% and finance costs increased by 17375.0% YoY, respectively.
  • Other income increased by 32.4% YoY during the quarter.
  • Net profit for the quarter increased by 0.3% YoY. Net profit margins during the quarter declined from 8.1% in 2QFY19 to 7.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 26.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 21.2% QoQ during the same period.
  • The company's operating profit declined by 13.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 2QFY20 as against 13.6% in 1QFY19.
  • Net profit for the quarter declined by 6.2% QoQ, while net profit margins increased from 6.2% in 1QFY19 to 7.9% in 2QFY20.

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

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VIP INDUSTRIES Share Price Performance

Over the last one year,VIP INDUSTRIES share price has moved down from Rs 445.2 to Rs 438.6, registering a Loss of Rs 6.6 or around 1.5%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 25,208.9 (up 0.1%). Over the last one year it has moved up from 19,760.2 to 25,208.9, a gain of 5,449 points (up 27.6%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 438.6, the price to earnings (P/E) ratio of VIP INDUSTRIES stands at 52.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.7 times.

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