IRB INFRA. Announces Quarterly Results (4QFY19); Net Profit Down 13.2%

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IRB INFRA. Announces Quarterly Results (4QFY19); Net Profit Down 13.2%
Wed, 29 May

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

IRB INFRA. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m13,82217,88519,4838.9%41.0%
Other incomeRs m4994655068.8%1.5%
TurnoverRs m14,32118,35019,9898.9%39.6%
ExpensesRs m7,23410,28111,88215.6%64.2%
Gross profitRs m6,5887,6047,6010.0%15.4%
DepreciationRs m1,1521,3211,3572.7%17.8%
InterestRs m2,0902,8663,1389.5%50.2%
Profit before taxRs m3,8453,8823,612-7.0%-6.1%
TaxRs m1,4471,6931,532-9.5%5.9%
Profit after taxRs m2,3982,1892,080-5.0%-13.2%
Gross profit margin%47.742.539.0
Effective tax rate%37.643.642.4
Net profit margin%16.711.910.4
* 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 41.0% on a year-on-year (YoY) basis. The expenses were up by 64.2% YoY during the same period.
  • The company's operating profit increased by 15.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.0% in 4QFY19 as against 47.7% in 4QFY18.
  • Depreciation charges increased by 17.8% and finance costs increased by 50.2% YoY, respectively.
  • Other income increased by 1.5% YoY during the quarter.
  • Net profit for the quarter declined by 13.2% YoY. Net profit margins during the quarter declined from 16.7% in 4QFY18 to 10.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 15.6% QoQ during the same period.
  • The company's operating profit declined by 0.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 39.0% in 4QFY19 as against 42.5% in 3QFY18.
  • Net profit for the quarter declined by 5.0% QoQ, while net profit margins declined from 11.9% in 3QFY18 to 10.4% in 4QFY19.

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 236.5 to Rs 132.5, registering a Loss of Rs 104.0 or around 44.0%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,201.7 (down 0.6%). Over the last one year it has moved down from 2,257.3 to 2,201.7, a gain of 56 points (down 2.5%).

Overall, the S&P BSE SENSEX is up 12.9% over the year.

Current Valuations

At the current price of Rs 132.5, the price to earnings (P/E) ratio of IRB INFRA. stands at 5.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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