IRB INFRA. Announces Quarterly Results (1QFY20); Net Profit Down 17.4%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

IRB INFRA. Announces Quarterly Results (1QFY20); Net Profit Down 17.4%
Wed, 7 Aug

IRB INFRA. has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

IRB INFRA. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m15,38019,48317,730-9.0%15.3%
Other incomeRs m453506481-5.0%6.2%
TurnoverRs m15,83219,98918,211-8.9%15.0%
ExpensesRs m7,91311,8829,176-22.8%16.0%
Gross profitRs m7,4677,6018,55412.5%14.6%
DepreciationRs m1,3451,3571,53513.1%14.2%
InterestRs m2,4773,1383,62815.6%46.5%
Profit before taxRs m4,0983,6123,8727.2%-5.5%
TaxRs m1,5971,5321,80617.9%13.1%
Profit after taxRs m2,5012,0802,066-0.7%-17.4%
Gross profit margin%48.539.048.2
Effective tax rate%39.042.446.6
Net profit margin%15.810.411.3
* 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 grew 15.3% on a year-on-year (YoY) basis. The expenses were up by 16.0% YoY during the same period.
  • The company's operating profit increased by 14.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 48.2% in 1QFY20 as against 48.5% in 1QFY19.
  • Depreciation charges increased by 14.2% and finance costs increased by 46.5% YoY, respectively.
  • Other income increased by 6.2% YoY during the quarter.
  • Net profit for the quarter declined by 17.4% YoY. Net profit margins during the quarter declined from 15.8% in 1QFY19 to 11.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 22.8% QoQ during the same period.
  • The company's operating profit increased by 12.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 48.2% in 1QFY20 as against 39.0% in 4QFY19.
  • Net profit for the quarter declined by 0.7% QoQ, while net profit margins increased from 10.4% in 4QFY19 to 11.3% in 1QFY20.

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

IRB INFRA. Share Price Performance

Over the last one year,IRB INFRA. share price has moved down from Rs 197.2 to Rs 103.0, registering a Loss of Rs 94.2 or around 47.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,036.8 (up 0.6%). Over the last one year it has moved down from 2,059.4 to 2,036.8, a gain of 23 points (down 1.1%).

Overall, the S&P BSE SENSEX is down 1.8% over the year.

Current Valuations

At the current price of Rs 103.0, the price to earnings (P/E) ratio of IRB INFRA. stands at 4.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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