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INDIABULLS REAL EST Announces Quarterly Results (4QFY19); Net Profit Down 93.1%

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INDIABULLS REAL EST Announces Quarterly Results (4QFY19); Net Profit Down 93.1%
Thu, 25 Apr

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

INDIABULLS REAL EST Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m20,28012,71118,21543.3%-10.2%
Other incomeRs m4001652,1911225.6%447.2%
TurnoverRs m20,68012,87620,40658.5%-1.3%
ExpensesRs m6608,83316,55787.4%2407.6%
Gross profitRs m19,6203,8781,658-57.2%-91.5%
DepreciationRs m2353729-21.7%-87.6%
InterestRs m2,2231,1431,44726.6%-34.9%
Profit before taxRs m17,5622,8632,373-17.1%-86.5%
TaxRs m1,0308141,23351.6%19.7%
Profit after taxRs m16,5322,0491,140-44.4%-93.1%
Gross profit margin%96.730.59.1
Effective tax rate%5.928.452.0
Net profit margin%79.915.95.6
* 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 10.2% on a year-on-year (YoY) basis. The expenses were up by 2407.6% YoY during the same period.
  • The company's operating profit declined by 91.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 4QFY19 as against 96.7% in 4QFY18.
  • Depreciation charges declined by 87.6% and finance costs declined by 34.9% YoY, respectively.
  • Other income increased by 447.2% YoY during the quarter.
  • Net profit for the quarter declined by 93.1% YoY. Net profit margins during the quarter declined from 79.9% in 4QFY18 to 5.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 43.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 87.4% QoQ during the same period.
  • The company's operating profit declined by 57.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 4QFY19 as against 30.5% in 3QFY18.
  • Net profit for the quarter declined by 44.4% QoQ, while net profit margins declined from 15.9% in 3QFY18 to 5.6% in 4QFY19.

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 204.9 to Rs 123.9, registering a Loss of Rs 81.0 or around 39.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,061.3 (up 0.1%). Over the last one year it has moved down from 2,403.8 to 2,061.3, a gain of 342 points (down 14.2%).

Overall, the S&P BSE SENSEX is up 11.9% over the year.

Current Valuations

At the current price of Rs 123.9, the price to earnings (P/E) ratio of INDIABULLS REAL EST stands at 10.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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