VIP INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 43.6%

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VIP INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 43.6%
Mon, 17 Feb

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

VIP INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m4,3014,1234,3244.9%0.5%
Other incomeRs m272718-34.4%-35.4%
TurnoverRs m4,3284,1504,3414.6%0.3%
ExpensesRs m3,9233,4603,6435.3%-7.1%
Gross profitRs m3786626802.7%79.9%
DepreciationRs m442122172.4%392.7%
InterestRs m77056-19.7%668.5%
Profit before taxRs m3544084254.2%20.0%
TaxRs m11679835.5%-28.5%
Profit after taxRs m2383293423.9%43.6%
Gross profit margin%8.816.115.7
Effective tax rate%32.719.319.5
Net profit margin%5.57.97.9
* 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 0.5% on a year-on-year (YoY) basis. The expenses were down by 7.1% YoY during the same period.
  • The company's operating profit increased by 79.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.7% in 3QFY20 as against 8.8% in 3QFY19.
  • Depreciation charges increased by 392.7% and finance costs increased by 668.5% YoY, respectively.
  • Other income declined by 35.4% YoY during the quarter.
  • Net profit for the quarter increased by 43.6% YoY. Net profit margins during the quarter increased from 5.5% in 3QFY19 to 7.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.3% QoQ during the same period.
  • The company's operating profit increased by 2.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.7% in 3QFY20 as against 16.1% in 2QFY19.
  • Net profit for the quarter increased by 3.9% QoQ, while net profit margins declined from 7.9% in 2QFY19 to 7.9% in 3QFY20.

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 up from Rs 424.8 to Rs 455.1, registering a Gain of Rs 30.3 or around 7.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 27,393.1 (up 1.6%). Over the last one year it has moved up from 21,092.0 to 27,393.1, a gain of 6,301 points (up 29.9%).

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 455.1, the price to earnings (P/E) ratio of VIP INDUSTRIES stands at 50.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.1 times.

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