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Results
04-Nov-20
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Analysis
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WPIL
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Consolidated PBT down 50%, standalone PBT up 29%
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WPIL registered 20% fall in consolidated sales to Rs 182.48 crore for the quarter ended Sep 2020. That together with 140 bps contraction in operating profit margin has led to 28% fall in operating profit to Rs 23.08 crore. The other income jumped up by 206% to Rs 2.95 crore and thus the PBIDT was down by 21% to Rs 26.03 crore. The interest cost was up by 36% to Rs 5.50 crore and the depreciation was up by 23% to Rs 10.12 crore. Thus the PBT was down by 50% to Rs 10.41 crore. The share of profit from Associate was Rs 1.09 crore (a jump of 315%) and thus the PBT before EO was down by 45% to Rs 11.50 crore. EO for the period as well as corresponding previous period was nil. With taxation being a provision of Rs 1.34 crore against a write back of Rs 0.39 crore in corresponding previous period, the PAT was down by 52% to Rs 10.17 crore. The minority interest was a loss of Rs 1.14 crore as against a share of profit of Rs 3.36 crore in the corresponding previous period. Thus the net profit after MI was down by 37% to Rs 11.31 crore.
- Standalone sales of the company for the quarter was down by 39% to Rs 62.86 crore. But with OPM expand by 1090 bps to 24.4%, the operating profit was up by 10% to Rs 15.32 crore. But with OI jump by 129% to Rs 6.34 crore, the PBIDT was up by 29% to Rs 21.65 crore. After accounting for higher interest and lowerdepreciation the PBT was up by 29% to Rs 17.32 crore. With taxation stand higher by 544% to Rs 4.48 crore, the PAT was up by 1% to RS 12.84 crore.
- On deducting standalone financials from consolidated financials, the sales of subsidiaries was down by 4% to Rs 119.62 crore and with OPM contract by 800 bps to 6.5%, the operating profit was down by 57% to Rs 7.76 crore. The PBT was a loss of Rs 6.91 crore compared to a profit of Rs 7.30 crore in the corresponding previous period.
Half Yearly performance
Consolidated sales was down by 10% to Rs 384.46crore. But with OPM expand by 210 bps to 11.2%, theOP was up by 11% to Rs 42.93 crore. After accounting for higher OI, higher interest and higher depreciation, the PBT (before share of profit from associate& EO) was up by 21% to Rs 21.25 crore. The PBT after share of profit from associate was up by 21% to Rs 21.25 crore with share of profit from associate stand higher by 4% to Rs 0.46 crore. The PAT was flat at Rs 16.16 crore with taxation stand higher by 261% to Rs 5.09 crore. Eventually the net profit was down by 14% to Rs 17.90 crore as minority interest being a share of loss amounting Rs 1.74 crore, a fall of 61%.
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