HOV SERVICES Announces Quarterly Results (1QFY20); Net Profit Up 3.1%

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HOV SERVICES Announces Quarterly Results (1QFY20); Net Profit Up 3.1%
Tue, 13 Aug

HOV SERVICES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HOV SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m28232818.4%-3.0%
Other incomeRs m152-57.3%36.1%
TurnoverRs m3028295.9%-1.1%
ExpensesRs m2522232.2%-8.4%
Gross profitRs m315451.2%37.8%
DepreciationRs m001595.0%479.2%
InterestRs m0000.0%0.0%
Profit before taxRs m555-9.2%4.2%
TaxRs m1111.4%6.9%
Profit after taxRs m343-13.0%3.1%
Gross profit margin%11.83.616.8
Effective tax rate%28.726.429.5
Net profit margin%10.913.811.4
* 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 3.0% on a year-on-year (YoY) basis. The expenses were down by 8.4% YoY during the same period.
  • The company's operating profit increased by 37.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.8% in 1QFY20 as against 11.8% in 1QFY19.
  • Depreciation charges increased by 479.2% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 36.1% YoY during the quarter.
  • Net profit for the quarter increased by 3.1% YoY. Net profit margins during the quarter increased from 10.9% in 1QFY19 to 11.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 18.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.2% QoQ during the same period.
  • The company's operating profit increased by 451.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.8% in 1QFY20 as against 3.6% in 4QFY19.
  • Net profit for the quarter declined by 13.0% QoQ, while net profit margins declined from 14.3% in 4QFY19 to 11.4% in 1QFY20.

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

HOV SERVICES Share Price Performance

Over the last one year,HOV SERVICES share price has moved down from Rs 207.1 to Rs 90.0, registering a Loss of Rs 117.2 or around 56.6%.

Overall, the S&P BSE SENSEX is down 1.2% over the year.

Current Valuations

At the current price of Rs 90.0, the price to earnings (P/E) ratio of HOV SERVICES stands at 87.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.2 times.

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