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INDIABULLS REAL EST Announces Quarterly Results (3QFY19); Net Profit Up 140.0%

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INDIABULLS REAL EST Announces Quarterly Results (3QFY19); Net Profit Up 140.0%
Wed, 20 Feb

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

INDIABULLS REAL EST Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m21,00110,40412,71122.2%-39.5%
Other incomeRs m643193165-14.4%-74.3%
TurnoverRs m21,64410,59712,87621.5%-40.5%
ExpensesRs m18,6907,9778,83310.7%-52.7%
Gross profitRs m2,3112,4273,87859.8%67.8%
DepreciationRs m247263742.8%-84.9%
InterestRs m1,6211,0391,14310.1%-29.5%
Profit before taxRs m1,0861,5562,86384.0%163.5%
TaxRs m23261181433.3%250.1%
Profit after taxRs m8549452,049116.8%140.0%
Gross profit margin%11.023.330.5
Effective tax rate%21.439.228.4
Net profit margin%3.98.915.9
* 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 39.5% on a year-on-year (YoY) basis. The expenses were down by 52.7% YoY during the same period.
  • The company's operating profit increased by 67.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.5% in 3QFY19 as against 11.0% in 3QFY18.
  • Depreciation charges declined by 84.9% and finance costs declined by 29.5% YoY, respectively.
  • Other income declined by 74.3% YoY during the quarter.
  • Net profit for the quarter increased by 140.0% YoY. Net profit margins during the quarter increased from 3.9% in 3QFY18 to 15.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 22.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.7% QoQ during the same period.
  • The company's operating profit increased by 59.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 30.5% in 3QFY19 as against 23.3% in 2QFY18.
  • Net profit for the quarter increased by 116.8% QoQ, while net profit margins increased from 8.9% in 2QFY18 to 15.9% in 3QFY19.

To see how INDIABULLS REAL EST has performed over the last eight quarters, please visit here.

INDIABULLS REAL EST Share Price Performance

Over the last one year, INDIABULLS REAL EST share price has moved up from Rs 217.6 to Rs 72.9, registering a Loss of Rs 144.7 or around 66.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,789.3 (up 0.5%). Over the last one year it has moved down from 2,422.1 to 1,789.3, a gain of 633 points (down 26.1%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 72.9, the price to earnings (P/E) ratio of INDIABULLS REAL EST stands at 1.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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