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GODREJ PROPERTIES Announces Quarterly Results (2QFY19); Net Profit Down 56.9%

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GODREJ PROPERTIES Announces Quarterly Results (2QFY19); Net Profit Down 56.9%
Mon, 5 Nov

GODREJ PROPERTIES has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

GODREJ PROPERTIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,9239,9673,933-60.5%-20.1%
Other incomeRs m43870093834.0%114.4%
TurnoverRs m5,36110,6674,871-54.3%-9.1%
ExpensesRs m4,1729,2984,049-56.5%-2.9%
Gross profitRs m752669-253-137.7%-133.6%
DepreciationRs m4033354.8%-13.9%
InterestRs m4025906154.2%53.0%
Profit before taxRs m74774636-95.2%-95.2%
TaxRs m269288-170-159.1%-163.3%
Profit after taxRs m478458206-55.1%-56.9%
Gross profit margin%15.36.7-6.4
Effective tax rate%36.038.6-477.8
Net profit margin%8.94.34.2
* 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 20.1% 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 133.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.4% in 2QFY19 as against 15.3% in 2QFY18.
  • Depreciation charges declined by 13.9% and finance costs increased by 53.0% YoY, respectively.
  • Other income increased by 114.4% YoY during the quarter.
  • Net profit for the quarter declined by 56.9% YoY. Net profit margins during the quarter declined from 8.9% in 2QFY18 to 4.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 60.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 56.5% QoQ during the same period.
  • The company's operating profit declined by 137.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.4% in 2QFY19 as against 6.7% in 1QFY18.
  • Net profit for the quarter declined by 55.1% QoQ, while net profit margins declined from 4.3% in 1QFY18 to 4.2% in 2QFY19.

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

GODREJ PROPERTIES Share Price Performance

Over the last one year, GODREJ PROPERTIES share price has moved up from Rs 718.8 to Rs 610.8, registering a Loss of Rs 108.1 or around 15.0%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,749.9 (up 1.7%). Over the last one year it has moved down from 2,375.8 to 1,749.9, a gain of 626 points (down 26.3%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 610.8, the price to earnings (P/E) ratio of GODREJ PROPERTIES stands at 52.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.4 times.

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