HOV SERVICES Announces Quarterly Results (3QFY19); Net Profit Down 19.5%

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HOV SERVICES Announces Quarterly Results (3QFY19); Net Profit Down 19.5%
Mon, 25 Feb

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

HOV SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m292927-8.0%-9.1%
Other incomeRs m42215.7%-50.0%
TurnoverRs m333028-6.8%-13.5%
ExpensesRs m292525-0.6%-14.3%
Gross profitRs m042-57.9%1655.6%
DepreciationRs m000-25.0%-18.2%
InterestRs m0000.0%0.0%
Profit before taxRs m353-37.1%-7.0%
TaxRs m111-19.1%31.0%
Profit after taxRs m342-43.8%-19.5%
Gross profit margin%0.313.06.0
Effective tax rate%24.627.034.7
Net profit margin%7.912.17.3
* 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 9.1% on a year-on-year (YoY) basis. The expenses were down by 14.3% YoY during the same period.
  • The company's operating profit increased by 1655.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.0% in 3QFY19 as against 0.3% in 3QFY18.
  • Depreciation charges declined by 18.2% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 50.0% YoY during the quarter.
  • Net profit for the quarter declined by 19.5% YoY. Net profit margins during the quarter declined from 7.9% in 3QFY18 to 7.3% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.6% QoQ during the same period.
  • The company's operating profit declined by 57.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.0% in 3QFY19 as against 13.0% in 2QFY18.
  • Net profit for the quarter declined by 43.8% QoQ, while net profit margins declined from 13.3% in 2QFY18 to 7.3% in 3QFY19.

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 up from Rs 279.1 to Rs 140.6, registering a Loss of Rs 138.5 or around 49.6%.

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 140.6, the price to book value (P/BV) ratio of HOV SERVICES stands at 1.0 times.

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