Other income decreased 17% to Rs 3.26 crore compared to Rs 3.91 crore. Interest cost increased 13% to Rs 9.34 crore. Depreciation was flat at Rs 22.03 crore. PBT before EO was down 2% to Rs 38.74 crore. The company had EO expense of Rs 10 crore compared to nil in the corresponding previous year quarter.
In the previous year, basis a ruling of the Supreme Court the company has recognized a provision for income tax of Rs. 21.07 crore and interest thereon of Rs.10 crore in respect of a disputed tax matter of earlier years. In this regards, based on the assessment being concluded during the quarter in favor of the company pursuant to a revised order of the Supreme Court the company has written back income tax of Rs 21.07 crore and interest thereon of Rs 10 crore. EO items pertain to interest cost reversal of Rs 10 crore. PBT after EO rose 24% to Rs 48.74 crore.
Tax provision decreased 42% to Rs 12.55 crore. PAT was up 102% to Rs 36.19 crore. Tax reversal for earlier period was Rs 21.07 crore compared to nil in the corresponding previous year period. Net profit rose 219% to Rs 57.26 crore.
Performance for year ended December 2019
For year ended December 2019, net sales rose 9% to Rs 2582.37 crore. The company operating margins increased 200 bps to 11.4%. As a result operating profits rose 31% to Rs 293.44 crore.
Other income rose 14% to Rs 16.2 crore. Interest cost rose 7% to Rs 31.13 crore. Depreciation rose 2% to Rs 86.93 crore. PBT before EO was up 55% to Rs 191.58 crore. The company had EO income of Rs 10 crore compared to EO expense of Rs 10 crore. PBT after EO was up 77% to Rs 201.58 crore.
Tax provision increased 10% to Rs 63.53 crore. PAT reported was up 147% to Rs 138.05 crore. Tax reversal for earlier period was Rs 21.07 crore compared tax provision of Rs 21.07 crore in the corresponding previous year period. Net profit rose 356% to Rs 159.12 crore.
The scrip is currently trading at Rs 283
Huhtamaki PPL: Standalone Results
|1912 (03)||1812 (03)||Var.(%)||1912 (12)||1812 (12)||Var.(%)|
|Total Operating Income||673.22||613.07||10||2582.37||2369.07||9|
|PBT Before EO||38.74||39.42||-2||191.58||123.57||55|
|PBT after EO||48.74||39.42||24||201.58||113.57||77|
|PAT after EO||57.26||17.96||219||159.12||34.89||356|
|* Annualized On Current Equity Of Rs 15.11 Crore of face value of Rs 2 each|
EO: Extraordinary Items, PL: Profit to Loss
EPS Is Calculated After Excluding EO And Relevant Tax
# EPS not annualised due to seasonality of business
Figures In Rs Crore
Source: Capitaline Database
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