DREDGING CORP Announces Quarterly Results (1QFY19); Net Profit Down 28.2%

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DREDGING CORP Announces Quarterly Results (1QFY19); Net Profit Down 28.2%
Mon, 20 Aug

DREDGING CORP has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

DREDGING CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m1,5791,5281,399-8.4%-11.4%
Other incomeRs m315415-90.3%338.2%
TurnoverRs m1,5831,6821,414-16.0%-10.7%
ExpensesRs m1,2061,1381,073-5.7%-11.1%
Gross profitRs m373390326-16.4%-12.7%
DepreciationRs m284292265-9.2%-6.6%
InterestRs m525242-18.5%-18.4%
Profit before taxRs m4120134-83.2%-18.2%
TaxRs m2305-82.2%231.3%
Profit after taxRs m4017129-83.3%-28.2%
Gross profit margin%23.625.523.3
Effective tax rate%3.914.815.7
Net profit margin%2.510.22.0
* 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 11.4% on a year-on-year (YoY) basis. The expenses were down by 11.1% YoY during the same period.
  • The company's operating profit declined by 12.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.3% in 1QFY19 as against 23.6% in 1QFY18.
  • Depreciation charges and finance costs declined by 6.6% YoY and 18.4% YoY, respectively.
  • Other income increased by 338.2% YoY during the quarter.
  • Net profit for the quarter declined by 28.2% YoY. Net profit margins during the quarter declined from 2.5% in 1QFY18 to 2.0% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.7% QoQ during the same period.
  • The company's operating profit declined by 16.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.3% in 1QFY19 as against 25.5% in 4QFY18.
  • Net profit for the quarter declined by 83.3% QoQ, while net profit margins declined from 10.2% in 4QFY18 to 2.0% in 1QFY19.

To see how DREDGING CORP has performed over the last eight quarters, please visit here.

DREDGING CORP Share Price Performance

Over the last one year, DREDGING CORP share price has moved up from Rs 610.7 to Rs 466.2, registering a Loss of Rs 144.5 or around 23.7%.

Overall, the S&P BSE SENSEX is up 20.4% over the year.

Current Valuations

At the current price of Rs 466.2, the price to earnings (P/E) ratio of DREDGING CORP stands at 81.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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