SITI NETWORKS LTD Announces Quarterly Results (1QFY20); Net Profit Up 11.9%

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SITI NETWORKS LTD Announces Quarterly Results (1QFY20); Net Profit Up 11.9%
Wed, 14 Aug

SITI NETWORKS LTD has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

SITI NETWORKS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,5013,1943,91922.7%12.0%
Other incomeRs m2418828-85.4%14.9%
TurnoverRs m3,5243,3833,94716.7%12.0%
ExpensesRs m2,7332,5263,08422.1%12.8%
Gross profitRs m742-50639-13.9%
DepreciationRs m888891847-4.9%-4.7%
InterestRs m445447441-1.4%-1.1%
Profit before taxRs m-568-1,199-621
TaxRs m-136-122-436.2%
Profit after taxRs m-567-1,235-499
Gross profit margin%21.2-1.616.3
Effective tax rate%0.2-3.019.6
Net profit margin%-16.1-36.5-12.6
* 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 12.0% on a year-on-year (YoY) basis. The expenses were up by 12.8% YoY during the same period.
  • The company's operating profit declined by 13.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.3% in 1QFY20 as against 21.2% in 1QFY19.
  • Depreciation charges declined by 4.7% and finance costs declined by 1.1% YoY, respectively.
  • Other income increased by 14.9% YoY during the quarter.
  • Net profit for the quarter increased by 11.9% YoY. Net profit margins during the quarter increased from -16.1% in 1QFY19 to -12.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 22.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.1% QoQ during the same period.
  • The company's operating profit increased by 1388.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.3% in 1QFY20 as against 1.6% in 4QFY19.
  • Net profit for the quarter increased by 59.6% QoQ, while net profit margins increased from -36.5% in 4QFY19 to -12.6% in 1QFY20.

To see how SITI NETWORKS LTD has performed over the last eight quarters,please visit here.

SITI NETWORKS LTD Share Price Performance

Over the last one year,SITI NETWORKS LTD share price has moved down from Rs 11.6 to Rs 1.9, registering a Loss of Rs 9.6 or around 83.2%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,636.3 (up 1.0%). Over the last one year it has moved up from 7,541.3 to 7,636.3, a gain of 95 points (up 1.3%).

Overall, the S&P BSE SENSEX is down 0.6% over the year.

Current Valuations

At the current price of Rs 1.9, the price to book value (P/BV) ratio of SITI NETWORKS LTD stands at 0.3 times.

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Related Views on News

SITI NETWORKS LTD Announces Quarterly Results (4QFY19); Net Profit Down 74.9% (Quarterly Result Update)

Jun 13, 2019 | Updated on Jun 13, 2019

For the quarter ended March 2019, SITI NETWORKS LTD has posted a net profit of Rs 1 bn (down 74.9% YoY). Sales on the other hand came in at Rs 3 bn (down 10.2% YoY). Read on for a complete analysis of SITI NETWORKS LTD's quarterly results.

SITI NETWORKS LTD Announces Quarterly Results (3QFY19); Net Profit Down 11.5% (Quarterly Result Update)

Feb 22, 2019 | Updated on Feb 22, 2019

For the quarter ended December 2018, SITI NETWORKS LTD has posted a net profit of Rs 358 m (down 11.5% YoY). Sales on the other hand came in at Rs 4 bn (up 8.0% YoY). Read on for a complete analysis of SITI NETWORKS LTD's quarterly results.

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