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SITI NETWORKS LTD Announces Quarterly Results (2QFY19); Net Profit Up 8.1%

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SITI NETWORKS LTD Announces Quarterly Results (2QFY19); Net Profit Up 8.1%
Mon, 12 Nov

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

SITI NETWORKS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,5233,5013,86710.5%9.8%
Other incomeRs m402468184.3%72.2%
TurnoverRs m3,5633,5243,93611.7%10.5%
ExpensesRs m2,8512,7333,06612.2%7.5%
Gross profitRs m6167428028.0%30.2%
DepreciationRs m7928889244.0%16.7%
InterestRs m371445404-9.3%8.7%
Profit before taxRs m-508-568-458
TaxRs m16-12447.5%
Profit after taxRs m-524-567-482
Gross profit margin%17.521.220.7
Effective tax rate%-3.10.2-5.1
Net profit margin%-14.7-16.1-12.2
* 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 9.8% on a year-on-year (YoY) basis. The expenses were up by 7.5% YoY during the same period.
  • The company's operating profit increased by 30.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.7% in 2QFY19 as against 17.5% in 2QFY18.
  • Depreciation charges increased by 16.7% and finance costs increased by 8.7% YoY, respectively.
  • Other income increased by 72.2% YoY during the quarter.
  • Net profit for the quarter increased by 8.1% YoY. Net profit margins during the quarter increased from -14.7% in 2QFY18 to -12.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.2% QoQ during the same period.
  • The company's operating profit declined by 8.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.7% in 2QFY19 as against 21.2% in 1QFY18.
  • Net profit for the quarter increased by 14.9% QoQ, while net profit margins increased from -16.1% in 1QFY18 to -12.2% in 2QFY19.

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 25.2 to Rs 10.0, registering a Loss of Rs 15.2 or around 60.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,176.4 (up 1.1%). Over the last one year it has moved up from 6,122.4 to 7,176.4, a gain of 1,054 points (up 17.2%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 10.0, the price to book value (P/BV) ratio of SITI NETWORKS LTD stands at 1.8 times.

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For the quarter ended March 2019, SITI NETWORKS LTD has posted a net profit of Rs 1 bn (down 74.9% YoY). Sales on the other hand came in at Rs 3 bn (down 10.2% YoY). Read on for a complete analysis of SITI NETWORKS LTD's quarterly results.

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