GMR INFRA Announces Quarterly Results (3QFY19); Net Profit Down 173.6%

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GMR INFRA Announces Quarterly Results (3QFY19); Net Profit Down 173.6%
Wed, 20 Feb

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

GMR INFRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m20,72318,10519,5788.1%-5.5%
Other incomeRs m2,2352,1521,620-24.7%-27.5%
TurnoverRs m22,95820,25721,1994.6%-7.7%
ExpensesRs m15,91713,70215,45612.8%-2.9%
Gross profitRs m4,8064,4034,122-6.4%-14.2%
DepreciationRs m2,6212,4592,444-0.6%-6.7%
InterestRs m6,3416,7647,1946.4%13.4%
Profit before taxRs m-1,921-2,668-3,895
TaxRs m-486-33730
Profit after taxRs m-1,435-2,330-3,925
Gross profit margin%23.224.321.1
Effective tax rate%25.312.6-0.8
Net profit margin%-6.2-11.5-18.5
* 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 5.5% on a year-on-year (YoY) basis. The expenses were down by 2.9% YoY during the same period.
  • The company's operating profit declined by 14.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.1% in 3QFY19 as against 23.2% in 3QFY18.
  • Depreciation charges declined by 6.7% and finance costs increased by 13.4% YoY, respectively.
  • Other income declined by 27.5% YoY during the quarter.
  • Net profit for the quarter declined by 173.6% YoY. Net profit margins during the quarter declined from -6.2% in 3QFY18 to -18.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.8% QoQ during the same period.
  • The company's operating profit declined by 6.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.1% in 3QFY19 as against 24.3% in 2QFY18.
  • Net profit for the quarter declined by 68.4% QoQ, while net profit margins declined from -11.5% in 2QFY18 to -18.5% in 3QFY19.

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

GMR INFRA Share Price Performance

Over the last one year, GMR INFRA share price has moved up from Rs 17.7 to Rs 15.6, registering a Loss of Rs 2.1 or around 11.9%.

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 15.6, the price to book value (P/BV) ratio of GMR INFRA stands at 1.8 times.

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For the quarter ended March 2019, GMR INFRA has posted a net profit of Rs 26 bn (down 866.1% YoY). Sales on the other hand came in at Rs 20 bn (down 6.0% YoY). Read on for a complete analysis of GMR INFRA's quarterly results.

GMR INFRA 2017-18 Annual Report Analysis (Annual Result Update)

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GMR INFRA Announces Quarterly Results (2QFY19); Net Profit Down 0.0% (Quarterly Result Update)

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For the quarter ended September 2018, GMR INFRA has posted a net profit of Rs 2 bn (down 0.0% YoY). Sales on the other hand came in at Rs 18 bn (down 3.0% YoY). Read on for a complete analysis of GMR INFRA's quarterly results.

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