IRB INFRA. Announces Quarterly Results (2QFY20); Net Profit Up 15.7%

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IRB INFRA. Announces Quarterly Results (2QFY20); Net Profit Up 15.7%
Fri, 25 Oct

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

IRB INFRA. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m14,32317,73017,521-1.2%22.3%
Other incomeRs m5324814901.9%-7.9%
TurnoverRs m14,85418,21118,011-1.1%21.2%
ExpensesRs m7,6219,17610,0479.5%31.8%
Gross profitRs m6,7018,5547,474-12.6%11.5%
DepreciationRs m1,3721,5351,139-25.8%-17.0%
InterestRs m2,7193,6283,8135.1%40.2%
Profit before taxRs m3,1413,8723,012-22.2%-4.1%
TaxRs m1,4121,8061,010-44.0%-28.4%
Profit after taxRs m1,7292,0662,002-3.1%15.7%
Gross profit margin%46.848.242.7
Effective tax rate%44.946.633.5
Net profit margin%11.611.311.1
* 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 22.3% on a year-on-year (YoY) basis. The expenses were up by 31.8% YoY during the same period.
  • The company's operating profit increased by 11.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.7% in 2QFY20 as against 46.8% in 2QFY19.
  • Depreciation charges declined by 17.0% and finance costs increased by 40.2% YoY, respectively.
  • Other income declined by 7.9% YoY during the quarter.
  • Net profit for the quarter increased by 15.7% YoY. Net profit margins during the quarter declined from 11.6% in 2QFY19 to 11.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.5% QoQ during the same period.
  • The company's operating profit declined by 12.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.7% in 2QFY20 as against 48.2% in 1QFY19.
  • Net profit for the quarter declined by 3.1% QoQ, while net profit margins declined from 11.3% in 1QFY19 to 11.1% in 2QFY20.

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

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IRB INFRA. Share Price Performance

Over the last one year,IRB INFRA. share price has moved down from Rs 121.0 to Rs 80.8, registering a Loss of Rs 40.3 or around 33.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,025.1 (down 0.3%). Over the last one year it has moved up from 1,610.8 to 2,025.1, a gain of 414 points (up 25.7%).

Overall, the S&P BSE SENSEX is up 14.5% over the year.

Current Valuations

At the current price of Rs 80.8, the price to earnings (P/E) ratio of IRB INFRA. stands at 3.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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