Hindustan Construction posts 158% rise in net - Views on News from Equitymaster

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Hindustan Construction posts 158% rise in net

Apr 27, 2000

Hindustan Construction Limited has posted a sharp improvement in net profit margins during the quarter ended 31st march 2000. The company has suffered a sharp decline in sales. However the faster decline in expenditure has helped the company in post a better bottomline during this period. The company has also witnessed a 66% rise in interest costs and this has suppressed the growth in bottomline. Tax expenditure also showed a significant rise.

The stock is trading at a price to earnings ratio of under 2x, based on the latest available annualised EPS. It is also trading at an over 50% discount to its 52 week high of 55.

(Rs m) 3QFY99 3QFY00 Change
Net Sales 1,982 1,557 -21.5%
Other Income 7 3 -49.8%
Expenditure 1,738 1,127 -35.1%
Operating Profit (EBDIT) 244 430 75.9%
Operating Profit Margin (%) 12.3% 27.6%  
Interest 63 105 65.7%
Depreciation 56 55 -3.0%
Profit before Tax 29 76 165.6%
Tax 3 10 230.0%
Profit after Tax/(Loss) 26 66 158.1%
Net profit margin (%) 1.3% 4.3%  
Earnings per share* 5.12 13.20 157.8%
(annualised)      


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