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

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SITI NETWORKS LTD Announces Quarterly Results (4QFY19); Net Profit Down 74.9%
Thu, 13 Jun

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

SITI NETWORKS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,5573,8593,194-17.2%-10.2%
Other incomeRs m1442188350.3%1291.9%
TurnoverRs m3,5703,9013,383-13.3%-5.3%
ExpensesRs m2,6842,8602,526-11.7%-5.9%
Gross profitRs m557999-50-105.0%-108.9%
DepreciationRs m908946891-5.8%-1.9%
InterestRs m3804114478.6%17.4%
Profit before taxRs m-718-316-1,199
TaxRs m-124236-13.3%
Profit after taxRs m-706-358-1,235
Gross profit margin%15.625.9-1.6
Effective tax rate%1.7-13.2-3.0
Net profit margin%-19.8-9.2-36.5
* 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 fell 10.2% on a year-on-year (YoY) basis. The expenses were down by 5.9% YoY during the same period.
  • The company's operating profit declined by 108.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 4QFY19 as against 15.6% in 4QFY18.
  • Depreciation charges declined by 1.9% and finance costs increased by 17.4% YoY, respectively.
  • Other income increased by 1291.9% YoY during the quarter.
  • Net profit for the quarter declined by 74.9% YoY. Net profit margins during the quarter declined from -19.8% in 4QFY18 to -36.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.7% QoQ during the same period.
  • The company's operating profit declined by 105.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 1.6% in 4QFY19 as against 25.9% in 3QFY18.
  • Net profit for the quarter declined by 245.2% QoQ, while net profit margins declined from -9.2% in 3QFY18 to -36.5% in 4QFY19.

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 up from Rs 14.7 to Rs 2.7, registering a Loss of Rs 12.0 or around 81.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,867.9 (down 0.4%). Over the last one year it has moved up from 7,150.5 to 7,867.9, a gain of 717 points (up 10.0%).

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 2.7, the price to book value (P/BV) ratio of SITI NETWORKS LTD stands at 0.5 times.

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Related Views on News

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

Aug 14, 2019 | Updated on Aug 14, 2019

For the quarter ended June 2019, SITI NETWORKS LTD has posted a net profit of Rs 499 m (up 11.9% YoY). Sales on the other hand came in at Rs 4 bn (up 12.0% YoY). Read on for a complete analysis of SITI NETWORKS LTD's quarterly results.

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