IVRCL LTD Announces Quarterly Results (2QFY19); Net Profit Down 58.1%

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IVRCL LTD Announces Quarterly Results (2QFY19); Net Profit Down 58.1%
Tue, 27 Nov

IVRCL LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

IVRCL LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m4,0422,0312,34015.2%-42.1%
Other incomeRs m7327113326.5%54.5%
TurnoverRs m4,1162,0572,45419.3%-40.4%
ExpensesRs m4,8662,5362,531-0.2%-48.0%
Gross profitRs m-824-506-1,169
DepreciationRs m166138127-7.9%-23.2%
InterestRs m1,8962,8233,24314.9%71.1%
Profit before taxRs m-2,813-3,440-4,427
TaxRs m-10440.0%
Profit after taxRs m-2,802-3,444-4,430
Gross profit margin%-20.4-24.9-50.0
Effective tax rate%0.4-0.1-0.1
Net profit margin%-68.1-167.4-180.6
* 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 42.1% on a year-on-year (YoY) basis. The expenses were down by 48.0% YoY during the same period.
  • The company's operating profit increased by 41.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 50.0% in 2QFY19 as against 20.4% in 2QFY18.
  • Depreciation charges declined by 23.2% and finance costs increased by 71.1% YoY, respectively.
  • Other income increased by 54.5% YoY during the quarter.
  • Net profit for the quarter declined by 58.1% YoY. Net profit margins during the quarter declined from -68.1% in 2QFY18 to -180.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 15.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.2% QoQ during the same period.
  • The company's operating profit declined by 131.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 50.0% in 2QFY19 as against 24.9% in 1QFY18.
  • Net profit for the quarter declined by 28.6% QoQ, while net profit margins declined from -167.4% in 1QFY18 to -180.6% in 2QFY19.

To see how IVRCL LTD has performed over the last eight quarters, please visit here.

IVRCL LTD Share Price Performance

Over the last one year, IVRCL LTD share price has moved up from Rs 4.3 to Rs 1.0, registering a Loss of Rs 3.3 or around 76.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,772.8 (up 0.8%). Over the last one year it has moved down from 2,415.1 to 1,772.8, a gain of 642 points (down 26.6%).

Overall, the S&P BSE SENSEX is up 5.1% over the year.

Current Valuations

At the current price of Rs 1.0, the price to book value (P/BV) ratio of IVRCL LTD stands at -0.2 times.

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