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IRB INFRA. Announces Quarterly Results (3QFY19); Net Profit Up 5.6%

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IRB INFRA. Announces Quarterly Results (3QFY19); Net Profit Up 5.6%
Tue, 5 Feb

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

IRB INFRA. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m12,96214,32317,88524.9%38.0%
Other incomeRs m455532465-12.5%2.3%
TurnoverRs m13,41714,85418,35023.5%36.8%
ExpensesRs m6,6597,62110,28134.9%54.4%
Gross profitRs m6,3036,7017,60413.5%20.6%
DepreciationRs m1,2121,3721,321-3.7%9.0%
InterestRs m2,3662,7192,8665.4%21.1%
Profit before taxRs m3,1793,1413,88223.6%22.1%
TaxRs m1,1061,4121,69319.9%53.1%
Profit after taxRs m2,0731,7292,18926.6%5.6%
Gross profit margin%48.646.842.5
Effective tax rate%34.844.943.6
Net profit margin%15.511.611.9
* 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 grew 38.0% on a year-on-year (YoY) basis. The expenses were up by 54.4% YoY during the same period.
  • The company's operating profit increased by 20.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.5% in 3QFY19 as against 48.6% in 3QFY18.
  • Depreciation charges increased by 9.0% and finance costs increased by 21.1% YoY, respectively.
  • Other income increased by 2.3% YoY during the quarter.
  • Net profit for the quarter increased by 5.6% YoY. Net profit margins during the quarter declined from 15.5% in 3QFY18 to 11.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 24.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 34.9% QoQ during the same period.
  • The company's operating profit declined by 13.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 42.5% in 3QFY19 as against 46.8% in 2QFY18.
  • Net profit for the quarter increased by 26.6% QoQ, while net profit margins increased from 11.6% in 2QFY18 to 11.9% in 3QFY19.

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 up from Rs 223.6 to Rs 131.3, registering a Loss of Rs 92.3 or around 41.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,778.1 (down 0.2%). Over the last one year it has moved down from 2,414.9 to 1,778.1, a gain of 637 points (down 26.4%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 131.3, the price to earnings (P/E) ratio of IRB INFRA. stands at 4.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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