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- ACC Announces Quarterly Results (3QFY20); Net Profit Down 63.2%
ACC Announces Quarterly Results (3QFY20); Net Profit Down 63.2%
Mon, 10 Feb
ACC has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:
ACC Quarterly Financials
| No. of Mths Qtr. Ending | 3 Dec-18* | 3 Sep-19* | 3 Dec-19* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 38,956 | 35,283 | 40,603 | 15.1% | 4.2% |
| Other income | Rs m | 300 | 508 | 575 | 13.3% | 91.7% |
| Turnover | Rs m | 39,256 | 35,791 | 41,179 | 15.1% | 4.9% |
| Expenses | Rs m | 34,078 | 29,712 | 35,194 | 18.4% | 3.3% |
| Gross profit | Rs m | 4,878 | 5,571 | 5,410 | -2.9% | 10.9% |
| Depreciation | Rs m | 1,552 | 1,512 | 1,608 | 6.4% | 3.6% |
| Interest | Rs m | 224 | 163 | 293 | 80.0% | 30.9% |
| Profit before tax | Rs m | 3,403 | 4,404 | 4,084 | -7.3% | 20.0% |
| Tax | Rs m | -3,891 | 1,409 | 1,400 | -0.6% | |
| Profit after tax | Rs m | 7,294 | 2,995 | 2,684 | -10.4% | -63.2% |
| Gross profit margin | % | 12.5 | 15.8 | 13.3 | ||
| Effective tax rate | % | -114.3 | 32.0 | 34.3 | ||
| Net profit margin | % | 18.6 | 8.4 | 6.5 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter grew 4.2% on a year-on-year (YoY) basis. The expenses were up by 3.3% YoY during the same period.
- The company's operating profit increased by 10.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.3% in 3QFY20.
- Depreciation charges increased by 3.6% and finance costs increased by 30.9% YoY, respectively.
- Other income increased by 91.7% YoY during the quarter.
- Net profit for the quarter declined by 63.2% YoY. Net profit margins during the quarter declined from 18.6% in 3QFY19 to 6.5% in 3QFY20.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 15.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.4% QoQ during the same period.
- The company's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 3QFY20 as against 15.8% in 2QFY19.
- Net profit for the quarter declined by 10.4% QoQ, while net profit margins declined from 8.4% in 2QFY19 to 6.5% in 3QFY20.
To see how ACC has performed over the last eight quarters,please visit here.
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ACC Share Price Performance
Over the last one year,ACC share price has moved up from Rs 1,399.2 to Rs 1,459.8, registering a Gain of Rs 60.6 or around 4.3%.
Overall, the S&P BSE SENSEX is up 10.6% over the year.
Current Valuations
At the current price of Rs 1,459.8, the price to earnings (P/E) ratio of ACC stands at 20.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.
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