Thangamayil Jewellery Ltd reports loss of Rs. 6.40 crore in Q1FY21

Thangamayil Jewellery Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.126.19 crores during the period ended June 30, 2020 as compared to Rs.358.98 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.(6.40) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.8.58 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.(4.71) for the period ended June 30, 2020 as compared to Rs.6.01 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 126.19 crs	₹ 358.98 crs	-64.85%
Net Profit	₹ (6.40) crs	₹ 8.58 crs	-174.59%
EPS	₹ (4.71)	₹ 6.01	-178.37%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.126.19 crores during the period ended June 30, 2020 as compared to Rs.491.90 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.(6.40) crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.12.85 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.(4.71) for the period ended June 30, 2020 as compared to Rs.9.36 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 126.19 crs	₹ 491.90 crs	-74.35%
Net Profit	₹ (6.40) crs	₹ 12.85 crs	-149.81%
EPS	₹ (4.71)	₹ 9.36	-150.32%

Highlights (YOY)

- The sale for the quarter was Rs. 125.89 Crs as against Rs.491.18 Crs for the quarter ended June 2019

- Gross profit margin on sales was at 16.59% as against 9.21% in June 2019, registering an increase of 738 bps due to better realization on account of positive Gold Price movement.

- Other expenses include a sum of Rs. 13.51Crs accounted as MTM difference for gold price hedging mechanism outstanding as on June 30,2020 as losses in accordance with generally applied treatment for Hedge.

- The net loss after taxes was at Rs.6.40Crs as against profit of Rs. 12.85Crs in June 2019

- Volume in Gold Ornaments products for the quarter was at 238 Kgs as against 1,309 Kgs for the quarter ended June 2019

- Volume in Silver Products for the quarter was at 1,353 Kgsas against 6,020 Kgs for the quarter ended June 2019

Highlights (QOQ)

- The sale for the quarter was Rs. 125.89Crs as against Rs.358.36Crs.

- Gross profit margin on sales was at 16.59% as against 13.01% in March 2020, registering an increase of 358 bps

- Other expenses include a sum of Rs. 13.51 Crs for the quarter as against Rs.6.70 Crsfor the period being MTM difference for gold price hedging mechanism outstanding as on June 30, 2020 as losses in accordance with generally applied the treatment for Hedging Accounting

- The net loss before taxes was at Rs.8.56Crs as against profit of Rs.12.73Crs in March 2020 quarter.

- Volume in gold ornaments for the quarter ended 30th June 2020, was at 238 Kgs as against 740 Kgs in March 2020

- Volume in Silver products for the quarter was at 1,353 Kgs as against 4,622 Kgs for quarter ended March 2020

Shares of Thangamayil Jewellery Ltd was last trading in BSE at Rs.353.75 as compared to the previous close of Rs. 300.6. The total number of shares traded during the day was 72230 in over 3632 trades.

The stock hit an intraday high of Rs. 359.85 and intraday low of 300. The net turnover during the day was Rs. 24546204.

Source : Equity Bulls

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