MAHINDRA LIFESPACE Announces Quarterly Results (3QFY19); Net Profit Down 59.6%

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MAHINDRA LIFESPACE Announces Quarterly Results (3QFY19); Net Profit Down 59.6%
Tue, 29 Jan

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

MAHINDRA LIFESPACE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,6838021,24455.1%-26.1%
Other incomeRs m173137130-5.2%-25.1%
TurnoverRs m1,8569391,37446.3%-26.0%
ExpensesRs m1,4768221,20947.0%-18.1%
Gross profitRs m272-2035-87.2%
DepreciationRs m1110103.1%-4.7%
InterestRs m714420-54.5%-72.3%
Profit before taxRs m36363135113.8%-62.9%
TaxRs m927825-68.0%-72.8%
Profit after taxRs m271-15110-59.6%
Gross profit margin%16.2-2.52.8
Effective tax rate%25.3124.018.6
Net profit margin%14.6-1.68.0
* 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 26.1% on a year-on-year (YoY) basis. The expenses were down by 18.1% YoY during the same period.
  • The company's operating profit declined by 87.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.8% in 3QFY19 as against 16.2% in 3QFY18.
  • Depreciation charges declined by 4.7% and finance costs declined by 72.3% YoY, respectively.
  • Other income declined by 25.1% YoY during the quarter.
  • Net profit for the quarter declined by 59.6% YoY. Net profit margins during the quarter declined from 14.6% in 3QFY18 to 8.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 55.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 47.0% QoQ during the same period.
  • The company's operating profit increased by 271.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.8% in 3QFY19 as against 2.5% in 2QFY18.
  • Net profit for the quarter increased by 826.5% QoQ, while net profit margins increased from -1.6% in 2QFY18 to 8.0% in 3QFY19.

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

MAHINDRA LIFESPACE Share Price Performance

Over the last one year, MAHINDRA LIFESPACE share price has moved up from Rs 500.5 to Rs 390.1, registering a Loss of Rs 110.4 or around 22.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,775.0 (down 0.7%). Over the last one year it has moved down from 2,631.8 to 1,775.0, a gain of 857 points (down 32.6%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 390.1, the price to earnings (P/E) ratio of MAHINDRA LIFESPACE stands at 34.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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