HCC Announces Quarterly Results (4QFY19); Net Profit Down 2229.8%

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HCC Announces Quarterly Results (4QFY19); Net Profit Down 2229.8%
Fri, 10 May

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

HCC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m14,42711,01813,22520.0%-8.3%
Other incomeRs m6872412545.3%-63.0%
TurnoverRs m15,11511,25913,47919.7%-10.8%
ExpensesRs m12,8339,02412,92043.2%0.7%
Gross profitRs m1,5951,994-3,587-279.9%-324.9%
DepreciationRs m352337322-4.4%-8.6%
InterestRs m1,6401,7332,09020.6%27.4%
Profit before taxRs m290166-5,745-3564.9%-2078.9%
TaxRs m8967-1,466-2298.1%-1739.9%
Profit after taxRs m20199-4,279-4417.6%-2229.8%
Gross profit margin%11.118.1-27.1
Effective tax rate%30.840.225.5
Net profit margin%1.30.9-31.7
* 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 8.3% on a year-on-year (YoY) basis. The expenses were up by 0.7% YoY during the same period.
  • The company's operating profit declined by 324.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.1% in 4QFY19 as against 11.1% in 4QFY18.
  • Depreciation charges declined by 8.6% and finance costs increased by 27.4% YoY, respectively.
  • Other income declined by 63.0% YoY during the quarter.
  • Net profit for the quarter declined by 2229.8% YoY. Net profit margins during the quarter declined from 1.3% in 4QFY18 to -31.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 20.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 43.2% QoQ during the same period.
  • The company's operating profit declined by 279.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.1% in 4QFY19 as against 18.1% in 3QFY18.
  • Net profit for the quarter declined by 4417.6% QoQ, while net profit margins declined from 0.9% in 3QFY18 to -31.7% in 4QFY19.

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

HCC Share Price Performance

Over the last one year, HCC share price has moved up from Rs 16.9 to Rs 12.0, registering a Loss of Rs 4.9 or around 28.9%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,944.7 (down 0.1%). Over the last one year it has moved down from 2,350.2 to 1,944.7, a gain of 406 points (down 17.3%).

Overall, the S&P BSE SENSEX is up 6.2% over the year.

Current Valuations

At the current price of Rs 12.0, the price to earnings (P/E) ratio of HCC stands at 0.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at -0.9 times.

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