DLF LTD Announces Quarterly Results (3QFY19); Net Profit Down 97.3%

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DLF LTD Announces Quarterly Results (3QFY19); Net Profit Down 97.3%
Wed, 13 Feb

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

DLF LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m16,93721,39022,1933.8%31.0%
Other incomeRs m1,6151,6591,86612.5%15.6%
TurnoverRs m18,55223,04924,0594.4%29.7%
ExpensesRs m9,92414,79715,7946.7%59.1%
Gross profitRs m92,7066,5936,399-2.9%-93.1%
DepreciationRs m1,7805535621.6%-68.4%
InterestRs m8,5654,9645,3297.3%-37.8%
Profit before taxRs m83,9762,7352,375-13.2%-97.2%
TaxRs m42,8761,3931,263-9.4%-97.1%
Profit after taxRs m41,1001,3421,112-17.1%-97.3%
Gross profit margin%547.430.828.8
Effective tax rate%51.150.953.2
Net profit margin%221.55.84.6
* 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 31.0% on a year-on-year (YoY) basis. The expenses were up by 59.1% YoY during the same period.
  • The company's operating profit declined by 93.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.8% in 3QFY19 as against 547.4% in 3QFY18.
  • Depreciation charges declined by 68.4% and finance costs declined by 37.8% YoY, respectively.
  • Other income increased by 15.6% YoY during the quarter.
  • Net profit for the quarter declined by 97.3% YoY. Net profit margins during the quarter declined from 221.5% in 3QFY18 to 4.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
  • The company's operating profit declined by 2.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 28.8% in 3QFY19 as against 30.8% in 2QFY18.
  • Net profit for the quarter declined by 17.1% QoQ, while net profit margins declined from 5.8% in 2QFY18 to 4.6% in 3QFY19.

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

DLF LTD Share Price Performance

Over the last one year, DLF LTD share price has moved up from Rs 233.7 to Rs 158.5, registering a Loss of Rs 75.2 or around 32.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,743.9 (up 0.8%). Over the last one year it has moved down from 2,518.0 to 1,743.9, a gain of 774 points (down 30.7%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 158.5, the price to earnings (P/E) ratio of DLF LTD stands at 131.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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