EIH Announces Quarterly Results (4QFY19); Net Profit Down 77.2%

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EIH Announces Quarterly Results (4QFY19); Net Profit Down 77.2%
Mon, 3 Jun

EIH has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

EIH Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m4,3144,4394,309-2.9%-0.1%
Other incomeRs m312131392199.8%25.5%
TurnoverRs m4,6264,5704,7002.9%1.6%
ExpensesRs m3,3263,1153,2614.7%-1.9%
Gross profitRs m9881,324201-84.9%-79.7%
DepreciationRs m304311303-2.5%-0.4%
InterestRs m116129114-12.2%-1.8%
Profit before taxRs m8801,015175-82.7%-80.1%
TaxRs m31937648-87.3%-85.1%
Profit after taxRs m561639128-80.0%-77.2%
Gross profit margin%22.929.84.7
Effective tax rate%36.237.027.2
Net profit margin%12.114.02.7
* 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 0.1% on a year-on-year (YoY) basis. The expenses were down by 1.9% YoY during the same period.
  • The company's operating profit declined by 79.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.7% in 4QFY19 as against 22.9% in 4QFY18.
  • Depreciation charges declined by 0.4% and finance costs declined by 1.8% YoY, respectively.
  • Other income increased by 25.5% YoY during the quarter.
  • Net profit for the quarter declined by 77.2% YoY. Net profit margins during the quarter declined from 12.1% in 4QFY18 to 2.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.7% QoQ during the same period.
  • The company's operating profit declined by 84.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.7% in 4QFY19 as against 29.8% in 3QFY18.
  • Net profit for the quarter declined by 80.0% QoQ, while net profit margins declined from 14.0% in 3QFY18 to 2.7% in 4QFY19.

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

EIH Share Price Performance

Over the last one year, EIH share price has moved up from Rs 173.6 to Rs 181.2, registering a Gain of Rs 7.6 or around 4.3%.

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 181.2, the price to earnings (P/E) ratio of EIH stands at 91.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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