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RELIANCE INFRA Announces Quarterly Results (2QFY19); Net Profit Down 804.4%

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RELIANCE INFRA Announces Quarterly Results (2QFY19); Net Profit Down 804.4%
Fri, 16 Nov

RELIANCE INFRA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

RELIANCE INFRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m71,89776,16657,508-24.5%-20.0%
Other incomeRs m5,4526,10714,565138.5%167.2%
TurnoverRs m77,34982,27472,073-12.4%-6.8%
ExpensesRs m53,65358,04342,430-26.9%-20.9%
Gross profitRs m20,25115,542-32,158-306.9%-258.8%
DepreciationRs m5,1535,2033,180-38.9%-38.3%
InterestRs m16,69416,38012,356-24.6%-26.0%
Profit before taxRs m3,85666-33,129-50678.2%-959.1%
TaxRs m-914-2,688470
Profit after taxRs m4,7702,754-33,599-1320.2%-804.4%
Gross profit margin%28.220.4-55.9
Effective tax rate%-23.7-4,104.0-1.4
Net profit margin%6.23.3-46.6
* 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 fell 20.0% on a year-on-year (YoY) basis. The expenses were down by 20.9% YoY during the same period.
  • The company's operating profit declined by 258.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 55.9% in 2QFY19 as against 28.2% in 2QFY18.
  • Depreciation charges declined by 38.3% and finance costs declined by 26.0% YoY, respectively.
  • Other income increased by 167.2% YoY during the quarter.
  • Net profit for the quarter declined by 804.4% YoY. Net profit margins during the quarter declined from 6.2% in 2QFY18 to -46.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 24.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 26.9% QoQ during the same period.
  • The company's operating profit declined by 306.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 55.9% in 2QFY19 as against 20.4% in 1QFY18.
  • Net profit for the quarter declined by 1320.2% QoQ, while net profit margins declined from 3.3% in 1QFY18 to -46.6% in 2QFY19.

To see how RELIANCE INFRA has performed over the last eight quarters, please visit here.

RELIANCE INFRA Share Price Performance

Over the last one year, RELIANCE INFRA share price has moved up from Rs 445.4 to Rs 346.9, registering a Loss of Rs 98.6 or around 22.1%.

Meanwhile, the S&P BSE POWER Index is trading at Rs 1,971.3 (up 0.6%). Over the last one year it has moved down from 2,255.1 to 1,971.3, a gain of 284 points (down 12.6%).

Overall, the S&P BSE SENSEX is up 8.4% over the year.

Current Valuations

At the current price of Rs 346.9, the price to book value (P/BV) ratio of RELIANCE INFRA stands at 0.4 times.

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