HIL Announces Quarterly Results (3QFY20); Net Profit Down 30.2%

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HIL Announces Quarterly Results (3QFY20); Net Profit Down 30.2%
Wed, 19 Feb

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

HIL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m3,2633,0252,960-2.1%-9.3%
Other incomeRs m712559-52.6%725.0%
TurnoverRs m3,2703,1503,020-4.1%-7.7%
ExpensesRs m2,9522,7212,7611.5%-6.5%
Gross profitRs m311304200-34.3%-35.7%
DepreciationRs m111125125-0.1%12.8%
InterestRs m72768410.4%16.9%
Profit before taxRs m13522850-78.1%-63.1%
TaxRs m65-701-98.6%
Profit after taxRs m7029849-83.6%-30.2%
Gross profit margin%9.510.16.7
Effective tax rate%48.0-30.91.8
Net profit margin%2.19.51.6
* 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 9.3% on a year-on-year (YoY) basis. The expenses were down by 6.5% YoY during the same period.
  • The company's operating profit declined by 35.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.7% in 3QFY20 as against 9.5% in 3QFY19.
  • Depreciation charges increased by 12.8% and finance costs increased by 16.9% YoY, respectively.
  • Other income increased by 725.0% YoY during the quarter.
  • Net profit for the quarter declined by 30.2% YoY. Net profit margins during the quarter declined from 2.1% in 3QFY19 to 1.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.5% QoQ during the same period.
  • The company's operating profit declined by 34.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.7% in 3QFY20 as against 10.1% in 2QFY19.
  • Net profit for the quarter declined by 83.6% QoQ, while net profit margins declined from 9.5% in 2QFY19 to 1.6% in 3QFY20.

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

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HIL Share Price Performance

Over the last one year,HIL share price has moved down from Rs 1,653.1 to Rs 1,150.8, registering a Loss of Rs 502.3 or around 30.4%.

Overall, the S&P BSE SENSEX is up 16.1% over the year.

Current Valuations

At the current price of Rs 1,150.8, the price to earnings (P/E) ratio of HIL stands at 10.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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For the quarter ended June 2020, HIL has posted a net profit of Rs 380 m (up 14.8% YoY). Sales on the other hand came in at Rs 4 bn (down 17.8% YoY). Read on for a complete analysis of HIL's quarterly results.

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