WEST COAST PAPER MILLS Announces Quarterly Results (3QFY20); Net Profit Down 40.9%

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WEST COAST PAPER MILLS Announces Quarterly Results (3QFY20); Net Profit Down 40.9%
Fri, 14 Feb

WEST COAST PAPER MILLS has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

WEST COAST PAPER MILLS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m4,3545,0984,762-6.6%9.4%
Other incomeRs m27140123-12.0%363.1%
TurnoverRs m4,3805,2384,885-6.7%11.5%
ExpensesRs m3,2603,8083,9072.6%19.9%
Gross profitRs m1,0931,290855-33.8%-21.8%
DepreciationRs m446421412-2.2%-7.6%
InterestRs m24118247109.9%931.4%
Profit before taxRs m650891319-64.2%-50.9%
TaxRs m-2571-80-212.3%
Profit after taxRs m675820399-51.4%-40.9%
Gross profit margin%25.125.317.9
Effective tax rate%-3.98.0-25.0
Net profit margin%15.415.78.2
* 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 9.4% on a year-on-year (YoY) basis. The expenses were up by 19.9% YoY during the same period.
  • The company's operating profit declined by 21.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.9% in 3QFY20 as against 25.1% in 3QFY19.
  • Depreciation charges declined by 7.6% and finance costs increased by 931.4% YoY, respectively.
  • Other income increased by 363.1% YoY during the quarter.
  • Net profit for the quarter declined by 40.9% YoY. Net profit margins during the quarter declined from 15.4% in 3QFY19 to 8.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.6% QoQ during the same period.
  • The company's operating profit declined by 33.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.9% in 3QFY20 as against 25.3% in 2QFY19.
  • Net profit for the quarter declined by 51.4% QoQ, while net profit margins declined from 15.7% in 2QFY19 to 8.2% in 3QFY20.

To see how WEST COAST PAPER MILLS has performed over the last eight quarters,please visit here.

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WEST COAST PAPER MILLS Share Price Performance

Over the last one year,WEST COAST PAPER MILLS share price has moved down from Rs 230.1 to Rs 215.9, registering a Loss of Rs 14.2 or around 6.2%.

Overall, the S&P BSE SENSEX is up 14.5% over the year.

Current Valuations

At the current price of Rs 215.9, the price to earnings (P/E) ratio of WEST COAST PAPER MILLS stands at 5.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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For the quarter ended December 2018, WEST COAST PAPER MILLS has posted a net profit of Rs 675 m (up 57.3% YoY). Sales on the other hand came in at Rs 4 bn (up 6.6% YoY). Read on for a complete analysis of WEST COAST PAPER MILLS's quarterly results.

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