VENKYS (I) LIMITED Announces Quarterly Results (1QFY21); Net Profit Down 24.0%

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VENKYS (I) LIMITED Announces Quarterly Results (1QFY21); Net Profit Down 24.0%
Tue, 15 Sep

VENKYS (I) LIMITED has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

VENKYS (I) LIMITED Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m9,0536,6095,415-18.1%-40.2%
Other incomeRs m838777-10.9%-6.7%
TurnoverRs m9,1366,6955,493-18.0%-39.9%
ExpensesRs m8,0407,7844,695-39.7%-41.6%
Gross profitRs m1,014-1,175720-28.9%
DepreciationRs m7910589-14.8%13.2%
InterestRs m659879-19.8%20.7%
Profit before taxRs m952-1,291630-33.9%
TaxRs m334-324160-52.1%
Profit after taxRs m618-967470-24.0%
Gross profit margin%11.2-17.813.3
Effective tax rate%35.125.125.4
Net profit margin%6.8-14.48.6
* 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 fell 40.2% on a year-on-year (YoY) basis. The expenses were down by 41.6% YoY during the same period.
  • The company's operating profit declined by 28.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.3% in 1QFY21 as against 11.2% in 1QFY20.
  • Depreciation charges increased by 13.2% and finance costs increased by 20.7% YoY, respectively.
  • Other income declined by 6.7% YoY during the quarter.
  • Net profit for the quarter declined by 24.0% YoY. Net profit margins during the quarter increased from 6.8% in 1QFY20 to 8.6% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 18.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 39.7% QoQ during the same period.
  • The company's operating profit declined by 161.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.3% in 1QFY21 as against 17.8% in 4QFY20.
  • Net profit for the quarter increased by 148.6% QoQ, while net profit margins increased from -14.4% in 4QFY20 to 8.6% in 1QFY21.

To see how VENKYS (I) LIMITED has performed over the last eight quarters,please visit here.

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VENKYS (I) LIMITED Share Price Performance

Over the last one year,VENKYS (I) LIMITED share price has moved down from Rs 1,642.3 to Rs 1,473.9, registering a Loss of Rs 168.4 or around 10.3%.

Overall, the S&P BSE SENSEX is up 4.9% over the year.

Current Valuations

At the current price of Rs 1,473.9, the price to book value (P/BV) ratio of VENKYS (I) LIMITED stands at 2.4 times.

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