PRIME SECURITIES Announces Quarterly Results (2QFY19); Net Profit Up 6.6%
Wed, 21 Nov

PRIME SECURITIES has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

PRIME SECURITIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m619794-3.0%53.7%
Other incomeRs m23318.5%100.0%
TurnoverRs m639997-2.4%54.9%
ExpensesRs m176449-23.3%185.5%
Gross profitRs m39334536.9%14.7%
DepreciationRs m011-16.7%25.0%
InterestRs m001200.0%500.0%
Profit before taxRs m40344735.5%16.8%
TaxRs m571035.7%86.3%
Profit after taxRs m35273735.4%6.6%
Gross profit margin%63.733.747.5
Effective tax rate%12.820.320.4
Net profit margin%55.727.638.3
* 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 53.7% on a year-on-year (YoY) basis. The expenses were up by 185.5% YoY during the same period.
  • The company's operating profit increased by 14.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 47.5% in 2QFY19 as against 63.7% in 2QFY18.
  • Depreciation charges increased by 25.0% and finance costs increased by 500.0% YoY, respectively.
  • Other income increased by 100.0% YoY during the quarter.
  • Net profit for the quarter increased by 6.6% YoY. Net profit margins during the quarter declined from 55.7% in 2QFY18 to 38.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 23.3% QoQ during the same period.
  • The company's operating profit increased by 36.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 47.5% in 2QFY19 as against 33.7% in 1QFY18.
  • Net profit for the quarter increased by 35.4% QoQ, while net profit margins increased from 27.3% in 1QFY18 to 38.3% in 2QFY19.

To see how PRIME SECURITIES has performed over the last eight quarters, please visit here.

PRIME SECURITIES Share Price Performance

Over the last one year, PRIME SECURITIES share price has moved up from Rs 50.0 to Rs 43.2, registering a Loss of Rs 6.8 or around 13.6%.

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 43.2, the price to earnings (P/E) ratio of PRIME SECURITIES stands at 8.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 187.2 times.