DB REALTY Announces Quarterly Results (3QFY19); Net Profit Down 146.7%

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DB REALTY Announces Quarterly Results (3QFY19); Net Profit Down 146.7%
Wed, 20 Feb

DB REALTY has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

DB REALTY Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5220.0%-59.9%
Other incomeRs m1,42624228718.4%-79.9%
TurnoverRs m1,43124428918.3%-79.8%
ExpensesRs m96412213611.3%-85.9%
Gross profitRs m-959-120-134
DepreciationRs m1142-39.1%-79.8%
InterestRs m14519923618.3%63.0%
Profit before taxRs m312-80-84-127.1%
TaxRs m808724-72.8%-70.3%
Profit after taxRs m232-168-108-146.7%
Gross profit margin%-18,576.6-5,784.1-6,450.7
Effective tax rate%25.6-109.0-28.2
Net profit margin%16.2-68.6-37.5
* 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 fell 59.9% on a year-on-year (YoY) basis. The expenses were down by 85.9% YoY during the same period.
  • The company's operating profit declined by 86.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6450.7% in 3QFY19 as against 18576.6% in 3QFY18.
  • Depreciation charges declined by 79.8% and finance costs increased by 63.0% YoY, respectively.
  • Other income declined by 79.9% YoY during the quarter.
  • Net profit for the quarter declined by 146.7% YoY. Net profit margins during the quarter declined from 16.2% in 3QFY18 to -37.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.3% QoQ during the same period.
  • The company's operating profit declined by 11.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6450.7% in 3QFY19 as against 5784.1% in 2QFY18.
  • Net profit for the quarter increased by 35.4% QoQ, while net profit margins increased from -68.9% in 2QFY18 to -37.5% in 3QFY19.

To see how DB REALTY has performed over the last eight quarters, please visit here.

DB REALTY Share Price Performance

Over the last one year, DB REALTY share price has moved up from Rs 52.1 to Rs 21.7, registering a Loss of Rs 30.5 or around 58.4%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,788.1 (up 0.4%). Over the last one year it has moved down from 2,422.1 to 1,788.1, a gain of 634 points (down 26.2%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 21.7, the price to book value (P/BV) ratio of DB REALTY stands at 0.2 times.

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For the quarter ended March 2019, DB REALTY has posted a net profit of Rs 882 m (down 7.2% YoY). Sales on the other hand came in at Rs 14 m (up 440.0% YoY). Read on for a complete analysis of DB REALTY's quarterly results.

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