BANCO PROD. Announces Quarterly Results (1QFY20); Net Profit Down 4.1%
Tue, 13 Aug

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

BANCO PROD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,5313,7033,9256.0%-13.4%
Other incomeRs m332490281.0%172.8%
TurnoverRs m4,5643,7274,0167.8%-12.0%
ExpensesRs m3,9213,3033,4905.7%-11.0%
Gross profitRs m6104004368.9%-28.5%
DepreciationRs m673741.1%1057.8%
InterestRs m83195-71.1%-93.5%
Profit before taxRs m55333244734.6%-19.3%
TaxRs m24110014747.7%-38.9%
Profit after taxRs m31223229928.9%-4.1%
Gross profit margin%13.510.811.1
Effective tax rate%43.630.133.0
Net profit margin%6.86.27.5
* 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 13.4% on a year-on-year (YoY) basis. The expenses were down by 11.0% YoY during the same period.
  • The company's operating profit declined by 28.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.1% in 1QFY20 as against 13.5% in 1QFY19.
  • Depreciation charges increased by 1057.8% and finance costs declined by 93.5% YoY, respectively.
  • Other income increased by 172.8% YoY during the quarter.
  • Net profit for the quarter declined by 4.1% YoY. Net profit margins during the quarter increased from 6.8% in 1QFY19 to 7.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.7% QoQ during the same period.
  • The company's operating profit increased by 8.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.1% in 1QFY20 as against 10.8% in 4QFY19.
  • Net profit for the quarter increased by 28.9% QoQ, while net profit margins increased from 6.2% in 4QFY19 to 7.5% in 1QFY20.

To see how BANCO PROD. has performed over the last eight quarters,please visit here.

BANCO PROD. Share Price Performance

Over the last one year,BANCO PROD. share price has moved down from Rs 218.6 to Rs 102.0, registering a Loss of Rs 116.6 or around 53.3%.

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 102.0, the price to earnings (P/E) ratio of BANCO PROD. stands at 9.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.