INDIABULLS REAL EST Announces Quarterly Results (3QFY20); Net Profit Down 76.0%

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INDIABULLS REAL EST Announces Quarterly Results (3QFY20); Net Profit Down 76.0%
Tue, 11 Feb

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

INDIABULLS REAL EST Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m12,71110,85712,32313.5%-3.1%
Other incomeRs m165163854425.8%417.0%
TurnoverRs m12,87611,01913,17719.6%2.3%
ExpensesRs m8,8335,70411,06994.1%25.3%
Gross profitRs m3,8785,1521,253-75.7%-67.7%
DepreciationRs m378973-18.3%96.0%
InterestRs m1,1431,537871-43.3%-23.8%
Profit before taxRs m2,8633,6891,164-68.4%-59.3%
TaxRs m8146486713.6%-17.5%
Profit after taxRs m2,0493,041493-83.8%-76.0%
Gross profit margin%30.547.510.2
Effective tax rate%28.417.657.7
Net profit margin%15.927.63.7
* 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 3.1% on a year-on-year (YoY) basis. The expenses were up by 25.3% YoY during the same period.
  • The company's operating profit declined by 67.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 3QFY20 as against 30.5% in 3QFY19.
  • Depreciation charges increased by 96.0% and finance costs declined by 23.8% YoY, respectively.
  • Other income increased by 417.0% YoY during the quarter.
  • Net profit for the quarter declined by 76.0% YoY. Net profit margins during the quarter declined from 15.9% in 3QFY19 to 3.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 94.1% QoQ during the same period.
  • The company's operating profit declined by 75.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 3QFY20 as against 47.5% in 2QFY19.
  • Net profit for the quarter declined by 83.8% QoQ, while net profit margins declined from 27.6% in 2QFY19 to 3.7% in 3QFY20.

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

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INDIABULLS REAL EST Share Price Performance

Over the last one year,INDIABULLS REAL EST share price has moved up from Rs 65.9 to Rs 91.0, registering a Gain of Rs 25.2 or around 38.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,422.7 (up 0.7%). Over the last one year it has moved up from 1,752.4 to 2,422.7, a gain of 670 points (up 38.3%).

Overall, the S&P BSE SENSEX is up 13.7% over the year.

Current Valuations

At the current price of Rs 91.0, the price to earnings (P/E) ratio of INDIABULLS REAL EST stands at 11.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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