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GODREJ PROPERTIES Announces Quarterly Results (3QFY19); Net Profit Down 101.9%

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GODREJ PROPERTIES Announces Quarterly Results (3QFY19); Net Profit Down 101.9%
Tue, 29 Jan

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

GODREJ PROPERTIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m6,2703,9333,401-13.5%-45.8%
Other incomeRs m473938906-3.4%91.7%
TurnoverRs m6,7434,8714,307-11.6%-36.1%
ExpensesRs m5,8084,0493,788-6.4%-34.8%
Gross profitRs m418-253-387-192.6%
DepreciationRs m4235388.9%-10.2%
InterestRs m378615542-11.9%43.6%
Profit before taxRs m47236-61-271.3%-112.9%
TaxRs m212-170-56-126.5%
Profit after taxRs m259206-5-102.3%-101.9%
Gross profit margin%6.7-6.4-11.4
Effective tax rate%45.0-477.892.1
Net profit margin%3.84.2-0.1
* 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 45.8% on a year-on-year (YoY) basis. The expenses were down by 34.8% YoY during the same period.
  • The company's operating profit declined by 192.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.4% in 3QFY19 as against 6.7% in 3QFY18.
  • Depreciation charges declined by 10.2% and finance costs increased by 43.6% YoY, respectively.
  • Other income increased by 91.7% YoY during the quarter.
  • Net profit for the quarter declined by 101.9% YoY. Net profit margins during the quarter declined from 3.8% in 3QFY18 to -0.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.4% QoQ during the same period.
  • The company's operating profit declined by 53.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.4% in 3QFY19 as against 6.4% in 2QFY18.
  • Net profit for the quarter declined by 102.3% QoQ, while net profit margins declined from 4.2% in 2QFY18 to -0.1% in 3QFY19.

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 814.0 to Rs 745.0, registering a Loss of Rs 69.1 or around 8.5%.

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 745.0, the price to earnings (P/E) ratio of GODREJ PROPERTIES stands at 71.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.6 times.

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

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For the quarter ended September 2018, GODREJ PROPERTIES has posted a net profit of Rs 206 m (down 56.9% YoY). Sales on the other hand came in at Rs 4 bn (down 20.1% YoY). Read on for a complete analysis of GODREJ PROPERTIES's quarterly results.

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