JAI CORP Announces Quarterly Results (1QFY22); Net Profit Up 625.7%

Mon, 16 Aug

JAI CORP has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

JAI CORP Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-20*	3 Mar-21*	3 Jun-21*	QoQ Change	YoY Change
Net Sales	Rs m	974	1,377	1,861	35.1%	91.2%
Other income	Rs m	42	41	48	16.2%	14.3%
Turnover	Rs m	1,016	1,419	1,909	34.6%	88.0%
Expenses	Rs m	961	1,200	1,723	43.6%	79.3%
Gross profit	Rs m	13	178	139	-22.0%	958.8%
Depreciation	Rs m	36	34	33	-3.2%	-7.0%
Interest	Rs m	48	33	18	-46.2%	-62.8%
Profit before tax	Rs m	-28	152	136	-10.5%
Tax	Rs m	-10	52	38	-27.7%
Profit after tax	Rs m	-19	100	98	-1.6%
Gross profit margin	%	1.3	12.9	7.5
Effective tax rate	%	33.7	34.2	27.7
Net profit margin	%	-1.8	7.0	5.1

Year-on-Year Performance:

• The company's operating income during the quarter grew 91.2% on a year-on-year (YoY) basis. The expenses were up by 79.3% YoY during the same period.
• The company's operating profit increased by 958.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.5% in 1QFY22 as against 1.3% in 1QFY21.
• Depreciation charges declined by 7.0% and finance costs declined by 62.8% YoY, respectively.
• Other income increased by 14.3% YoY during the quarter.
• Net profit for the quarter increased by 625.7% YoY. Net profit margins during the quarter increased from -1.8% in 1QFY21 to 5.1% in 1QFY22.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 35.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 43.6% QoQ during the same period.
• The company's operating profit declined by 22.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 1QFY22 as against 12.9% in 4QFY21.
• Net profit for the quarter declined by 1.6% QoQ, while net profit margins declined from 7.0% in 4QFY21 to 5.1% in 1QFY22.

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

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JAI CORP Share Price Performance

Over the last one year, JAI CORP share price has moved up from Rs 91.4 to Rs 134.9, registering a Gain of Rs 43.5 or around 47.6%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 21,542.3 (up 1.8%). Over the last one year it has moved up from 8,742.4 to 21,542.3, a gain of 12,800 points (up 146.4%).

Overall, the S&P BSE SENSEX is up 44.9% over the year.

Current Valuations

At the current price of Rs 134.9, the price to earnings (P/E) ratio of JAI CORP stands at 23.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.