DREDGING CORP Announces Quarterly Results (1QFY20); Net Profit Down 71.2%

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DREDGING CORP Announces Quarterly Results (1QFY20); Net Profit Down 71.2%
Tue, 13 Aug

DREDGING CORP has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

DREDGING CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m1,3992,3851,965-17.6%40.5%
Other incomeRs m15-132112.6%
TurnoverRs m1,4142,3841,997-16.2%41.2%
ExpensesRs m1,0739251,65478.9%54.2%
Gross profitRs m3261,460311-78.7%-4.7%
DepreciationRs m2652872911.4%9.8%
InterestRs m425737-35.0%-12.8%
Profit before taxRs m341,11615-98.7%-56.3%
TaxRs m55737.7%24.2%
Profit after taxRs m291,1118-99.3%-71.2%
Gross profit margin%23.361.215.8
Effective tax rate%15.70.444.5
Net profit margin%2.046.60.4
* 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 40.5% on a year-on-year (YoY) basis. The expenses were up by 54.2% YoY during the same period.
  • The company's operating profit declined by 4.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 1QFY20 as against 23.3% in 1QFY19.
  • Depreciation charges increased by 9.8% and finance costs declined by 12.8% YoY, respectively.
  • Other income increased by 112.6% YoY during the quarter.
  • Net profit for the quarter declined by 71.2% YoY. Net profit margins during the quarter declined from 2.0% in 1QFY19 to 0.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 17.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 78.9% QoQ during the same period.
  • The company's operating profit declined by 78.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 1QFY20 as against 61.2% in 4QFY19.
  • Net profit for the quarter declined by 99.3% QoQ, while net profit margins declined from 46.6% in 4QFY19 to 0.4% in 1QFY20.

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 down from Rs 471.1 to Rs 327.7, registering a Loss of Rs 143.4 or around 30.4%.

Overall, the S&P BSE SENSEX is down 1.2% over the year.

Current Valuations

At the current price of Rs 327.7, the price to earnings (P/E) ratio of DREDGING CORP stands at 21.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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Nov 14, 2018 | Updated on Nov 14, 2018

For the quarter ended September 2018, DREDGING CORP has posted a net profit of Rs 792 m (down 525.8% YoY). Sales on the other hand came in at Rs 1 bn (down 8.0% YoY). Read on for a complete analysis of DREDGING CORP's quarterly results.

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