ACC Announces Quarterly Results (3QFY20); Net Profit Down 63.2%

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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 ChangeYoY Change
Net SalesRs m38,95635,28340,60315.1%4.2%
Other incomeRs m30050857513.3%91.7%
TurnoverRs m39,25635,79141,17915.1%4.9%
ExpensesRs m34,07829,71235,19418.4%3.3%
Gross profitRs m4,8785,5715,410-2.9%10.9%
DepreciationRs m1,5521,5121,6086.4%3.6%
InterestRs m22416329380.0%30.9%
Profit before taxRs m3,4034,4044,084-7.3%20.0%
TaxRs m-3,8911,4091,400-0.6%
Profit after taxRs m7,2942,9952,684-10.4%-63.2%
Gross profit margin%12.515.813.3
Effective tax rate%-114.332.034.3
Net profit margin%18.68.46.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


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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