RELIANCE CAPITAL Announces Quarterly Results (2QFY19); Net Profit Down 20.2%

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RELIANCE CAPITAL Announces Quarterly Results (2QFY19); Net Profit Down 20.2%
Thu, 29 Nov

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

RELIANCE CAPITAL Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m52,43046,19053,08014.9%1.2%
Other incomeRs m1102202200.0%100.0%
TurnoverRs m52,54046,41053,30014.8%1.4%
ExpensesRs m37,90032,31038,92020.5%2.7%
Gross profitRs m15,09014,36014,160-1.4%-6.2%
DepreciationRs m3202002000.0%-37.5%
InterestRs m9,88010,80010,750-0.5%8.8%
Profit before taxRs m5,0003,5803,430-4.2%-31.4%
TaxRs m1,480630620-1.6%-58.1%
Profit after taxRs m3,5202,9502,810-4.7%-20.2%
Gross profit margin%28.831.126.7
Effective tax rate%29.617.618.1
Net profit margin%6.76.45.3
* 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 1.2% on a year-on-year (YoY) basis. The expenses were up by 2.7% YoY during the same period.
  • The company's operating profit declined by 6.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.7% in 2QFY19 as against 28.8% in 2QFY18.
  • Depreciation charges declined by 37.5% and finance costs increased by 8.8% YoY, respectively.
  • Other income increased by 100.0% YoY during the quarter.
  • Net profit for the quarter declined by 20.2% YoY. Net profit margins during the quarter declined from 6.7% in 2QFY18 to 5.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 20.5% QoQ during the same period.
  • The company's operating profit declined by 1.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.7% in 2QFY19 as against 31.1% in 1QFY18.
  • Net profit for the quarter declined by 4.7% QoQ, while net profit margins declined from 6.4% in 1QFY18 to 5.3% in 2QFY19.

To see how RELIANCE CAPITAL has performed over the last eight quarters, please visit here.

RELIANCE CAPITAL Share Price Performance

Over the last one year, RELIANCE CAPITAL share price has moved up from Rs 442.4 to Rs 236.6, registering a Loss of Rs 205.8 or around 46.5%.

Overall, the S&P BSE SENSEX is up 7.1% over the year.

Current Valuations

At the current price of Rs 236.6, the price to earnings (P/E) ratio of RELIANCE CAPITAL stands at 6.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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For the quarter ended December 2018, RELIANCE CAPITAL has posted a net profit of Rs 2 bn (down 34.9% YoY). Sales on the other hand came in at Rs 50 bn (up 5.3% YoY). Read on for a complete analysis of RELIANCE CAPITAL's quarterly results.

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