SITI NETWORKS LTD Announces Quarterly Results (1QFY19); Net Profit Up 271.6%
Fri, 10 Aug

SITI NETWORKS LTD has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

SITI NETWORKS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m3,6503,5573,501-1.6%-4.1%
Other incomeRs m62142477.0%-61.1%
TurnoverRs m3,7113,5703,524-1.3%-5.0%
ExpensesRs m2,6392,6842,7331.9%3.6%
Gross profitRs m1,01055774233.3%-26.5%
DepreciationRs m726908888-2.2%22.4%
InterestRs m33138044517.1%34.5%
Profit before taxRs m15-718-568-3986.2%
TaxRs m167-12-1-100.7%
Profit after taxRs m-152-706-567
Gross profit margin%27.715.621.2
Effective tax rate%1,143.51.70.2
Net profit margin%-4.1-19.8-16.1
* 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 4.1% on a year-on-year (YoY) basis. The expenses were up by 3.6% YoY during the same period.
  • The company's operating profit declined by 26.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.2% in 1QFY19 as against 27.7% in 1QFY18.
  • Depreciation charges and finance costs increased by 22.4% YoY and 34.5% YoY, respectively.
  • Other income declined by 61.1% YoY during the quarter.
  • Net profit for the quarter increased by 271.6% YoY. Net profit margins during the quarter declined from -4.1% in 1QFY18 to -16.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.9% QoQ during the same period.
  • The company's operating profit increased by 33.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.2% in 1QFY19 as against 15.6% in 4QFY18.
  • Net profit for the quarter declined by 19.8% QoQ, while net profit margins increased from -19.8% in 4QFY18 to -16.1% in 1QFY19.

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 24.8 to Rs 12.8, registering a Loss of Rs 12.0 or around 48.3%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,456.5 (up 0.3%). Over the last one year it has moved up from 5,788.7 to 7,456.5, a gain of 1,668 points (up 28.8%).

Overall, the S&P BSE SENSEX is up 19.1% over the year.

Current Valuations

At the current price of Rs 12.8, the price to book value (P/BV) ratio of SITI NETWORKS LTD stands at 1.5 times.