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INDUS TOWERS Announces Quarterly Results (3QFY21); Net Profit Up 70.0%

Mon, 1 Feb

INDUS TOWERS has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

INDUS TOWERS Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	16,672	17,664	40,607	129.9%	143.6%
Other income	Rs m	173	222	809	264.4%	367.6%
Turnover	Rs m	16,845	17,886	41,416	131.6%	145.9%
Expenses	Rs m	8,010	8,594	20,333	136.6%	153.8%
Gross profit	Rs m	8,662	9,070	20,274	123.5%	134.1%
Depreciation	Rs m	3,097	3,046	9,132	199.8%	194.9%
Interest	Rs m	203	288	2,330	709.0%	1047.8%
Profit before tax	Rs m	5,535	5,958	9,621	61.5%	73.8%
Tax	Rs m	1,400	1,514	2,591	71.1%	85.1%
Profit after tax	Rs m	4,135	4,444	7,030	58.2%	70.0%
Gross profit margin	%	52.0	51.3	49.9
Effective tax rate	%	25.3	25.4	26.9
Net profit margin	%	24.5	24.8	17.0

Year-on-Year Performance:

• The company's operating income during the quarter grew 143.6% on a year-on-year (YoY) basis. The expenses were up by 153.8% YoY during the same period.
• The company's operating profit increased by 134.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 49.9% in 3QFY21 as against 52.0% in 3QFY20.
• Depreciation charges increased by 194.9% and finance costs increased by 1047.8% YoY, respectively.
• Other income increased by 367.6% YoY during the quarter.
• Net profit for the quarter increased by 70.0% YoY. Net profit margins during the quarter declined from 24.5% in 3QFY20 to 17.0% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 129.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 136.6% QoQ during the same period.
• The company's operating profit increased by 123.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 49.9% in 3QFY21 as against 51.3% in 2QFY20.
• Net profit for the quarter increased by 58.2% QoQ, while net profit margins declined from 24.8% in 2QFY20 to 17.0% in 3QFY21.

To see how INDUS TOWERS has performed over the last eight quarters,please visit here.

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INDUS TOWERS Share Price Performance

Over the last one year, INDUS TOWERS share price has moved down from Rs 247.2 to Rs 237.4, registering a Loss of Rs 9.8 or around 3.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 11,576.7 (up 1.7%). Over the last one year it has moved up from 7,997.1 to 11,576.7, a gain of 3,580 points (up 44.8%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 237.4, the price to earnings (P/E) ratio of INDUS TOWERS stands at 22.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.