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VIP INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 27.9%

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VIP INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 27.9%
Wed, 8 May

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

VIP INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,6264,3014,3501.1%20.0%
Other incomeRs m242720-28.1%-16.2%
TurnoverRs m3,6494,3284,3701.0%19.7%
ExpensesRs m3,0833,9233,9540.8%28.3%
Gross profitRs m5433783964.7%-27.1%
DepreciationRs m3544475.7%33.6%
InterestRs m177-4.1%438.5%
Profit before taxRs m5313543622.2%-31.8%
TaxRs m180116109-5.9%-39.4%
Profit after taxRs m3512382536.1%-27.9%
Gross profit margin%15.08.89.1
Effective tax rate%33.932.730.1
Net profit margin%9.65.55.8
* 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 20.0% on a year-on-year (YoY) basis. The expenses were up by 28.3% YoY during the same period.
  • The company's operating profit declined by 27.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 4QFY19 as against 15.0% in 4QFY18.
  • Depreciation charges increased by 33.6% and finance costs increased by 438.5% YoY, respectively.
  • Other income declined by 16.2% YoY during the quarter.
  • Net profit for the quarter declined by 27.9% YoY. Net profit margins during the quarter declined from 9.6% in 4QFY18 to 5.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.8% QoQ during the same period.
  • The company's operating profit increased by 4.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.1% in 4QFY19 as against 8.8% in 3QFY18.
  • Net profit for the quarter increased by 6.1% QoQ, while net profit margins increased from 5.5% in 3QFY18 to 5.8% in 4QFY19.

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 419.8 to Rs 420.3, registering a Gain of Rs 0.5 or around 0.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,842.2 (down 0.9%). Over the last one year it has moved up from 22,413.1 to 22,842.2, a gain of 429 points (up 1.9%).

Overall, the S&P BSE SENSEX is up 7.6% over the year.

Current Valuations

At the current price of Rs 420.3, the price to earnings (P/E) ratio of VIP INDUSTRIES stands at 40.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.1 times.

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