DLF Announces Quarterly Results (1QFY21); Net Profit Down 219.6%

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DLF Announces Quarterly Results (1QFY21); Net Profit Down 219.6%
Mon, 10 Aug

DLF has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

DLF Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m13,31216,9425,486-67.6%-58.8%
Other incomeRs m2,0981,796984-45.2%-53.1%
TurnoverRs m15,41018,7386,470-65.5%-58.0%
ExpensesRs m10,91513,7755,469-60.3%-49.9%
Gross profitRs m5,362-14017-99.7%
DepreciationRs m511601422-29.7%-17.4%
InterestRs m5,3602,3532,3740.9%-55.7%
Profit before taxRs m1,589-1,297-1,795-213.0%
TaxRs m10019,073-14-100.1%-114.4%
Profit after taxRs m1,489-20,371-1,780-219.6%
Gross profit margin%40.3-0.80.3
Effective tax rate%6.3-1,470.30.8
Net profit margin%9.7-108.7-27.5
* 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 58.8% on a year-on-year (YoY) basis. The expenses were down by 49.9% YoY during the same period.
  • The company's operating profit declined by 99.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.3% in 1QFY21 as against 40.3% in 1QFY20.
  • Depreciation charges declined by 17.4% and finance costs declined by 55.7% YoY, respectively.
  • Other income declined by 53.1% YoY during the quarter.
  • Net profit for the quarter declined by 219.6% YoY. Net profit margins during the quarter declined from 9.7% in 1QFY20 to -27.5% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 67.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 60.3% QoQ during the same period.
  • The company's operating profit declined by 112.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 0.3% in 1QFY21 as against 0.8% in 4QFY20.
  • Net profit for the quarter increased by 91.3% QoQ, while net profit margins increased from -108.7% in 4QFY20 to -27.5% in 1QFY21.

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

New: A Potential 10x Opportunity in the Long Term

DLF Share Price Performance

Over the last one year,DLF share price has moved down from Rs 175.6 to Rs 144.3, registering a Loss of Rs 31.4 or around 17.9%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,621.1 (up 0.9%). Over the last one year it has moved down from 2,049.4 to 1,621.1, a gain of 428 points (down 20.9%).

Overall, the S&P BSE SENSEX is up 4.4% over the year.

Current Valuations

At the current price of Rs 144.3, the price to book value (P/BV) ratio of DLF stands at 0.7 times.

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