SYMPHONY Announces Quarterly Results (4QFY19); Net Profit Down 92.8%

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SYMPHONY Announces Quarterly Results (4QFY19); Net Profit Down 92.8%
Fri, 24 May

SYMPHONY has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

SYMPHONY Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m1,5542,4002,350-2.1%51.2%
Other incomeRs m92130110-15.4%19.8%
TurnoverRs m1,6462,5302,460-2.8%49.5%
ExpensesRs m1,0591,9702,0604.6%94.6%
Gross profitRs m49543090-79.1%-81.8%
DepreciationRs m11203050.0%172.7%
InterestRs m030300.0%29900.0%
Profit before taxRs m576510140-72.5%-75.7%
TaxRs m157140110-21.4%-29.8%
Profit after taxRs m41937030-91.9%-92.8%
Gross profit margin%31.917.93.8
Effective tax rate%27.227.578.6
Net profit margin%25.514.61.2
* 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 51.2% on a year-on-year (YoY) basis. The expenses were up by 94.6% YoY during the same period.
  • The company's operating profit declined by 81.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.8% in 4QFY19 as against 31.9% in 4QFY18.
  • Depreciation charges increased by 172.7% and finance costs increased by 29900.0% YoY, respectively.
  • Other income increased by 19.8% YoY during the quarter.
  • Net profit for the quarter declined by 92.8% YoY. Net profit margins during the quarter declined from 25.5% in 4QFY18 to 1.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.6% QoQ during the same period.
  • The company's operating profit declined by 79.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.8% in 4QFY19 as against 17.9% in 3QFY18.
  • Net profit for the quarter declined by 91.9% QoQ, while net profit margins declined from 14.6% in 3QFY18 to 1.2% in 4QFY19.

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

SYMPHONY Share Price Performance

Over the last one year, SYMPHONY share price has moved up from Rs 1,439.0 to Rs 1,169.3, registering a Loss of Rs 269.7 or around 18.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 24,005.7 (down 0.6%). Over the last one year it has moved up from 21,173.4 to 24,005.7, a gain of 2,832 points (up 13.4%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 1,169.3, the price to earnings (P/E) ratio of SYMPHONY stands at 89.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 13.4 times.

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