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DREDGING CORP Announces Quarterly Results (3QFY19); Net Profit Up 143.5%

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DREDGING CORP Announces Quarterly Results (3QFY19); Net Profit Up 143.5%
Mon, 4 Feb

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

DREDGING CORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,1991,4841,65011.2%37.6%
Other incomeRs m301143301.9%44.3%
TurnoverRs m1,2291,4941,69313.3%37.8%
ExpensesRs m1,1271,9441,265-34.9%12.2%
Gross profitRs m72-460386437.0%
DepreciationRs m266299278-7.1%4.6%
InterestRs m513938-3.6%-26.6%
Profit before taxRs m-215-787113
TaxRs m10415257.1%51.5%
Profit after taxRs m-225-79298
Gross profit margin%6.0-31.023.4
Effective tax rate%-4.6-0.513.3
Net profit margin%-18.3-53.05.8
* 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 37.6% on a year-on-year (YoY) basis. The expenses were up by 12.2% YoY during the same period.
  • The company's operating profit increased by 437.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.4% in 3QFY19 as against 6.0% in 3QFY18.
  • Depreciation charges increased by 4.6% and finance costs declined by 26.6% YoY, respectively.
  • Other income increased by 44.3% YoY during the quarter.
  • Net profit for the quarter increased by 143.5% YoY. Net profit margins during the quarter increased from -18.3% in 3QFY18 to 5.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 34.9% QoQ during the same period.
  • The company's operating profit increased by 183.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.4% in 3QFY19 as against 31.0% in 2QFY18.
  • Net profit for the quarter increased by 112.4% QoQ, while net profit margins increased from -53.0% in 2QFY18 to 5.8% in 3QFY19.

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 683.9 to Rs 395.2, registering a Loss of Rs 288.7 or around 42.2%.

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

Current Valuations

At the current price of Rs 395.2, the price to book value (P/BV) ratio of DREDGING CORP stands at 0.7 times.

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