IVRCL LTD Announces Quarterly Results (3QFY19); Net Profit Down 29.9%

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IVRCL LTD Announces Quarterly Results (3QFY19); Net Profit Down 29.9%
Mon, 11 Feb

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

IVRCL LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,1932,3401,710-26.9%-46.5%
Other incomeRs m3511332-71.9%-9.2%
TurnoverRs m3,2292,4541,742-29.0%-46.0%
ExpensesRs m4,2512,5312,005-20.8%-52.8%
Gross profitRs m-1,058-1,169-1,001
DepreciationRs m164127114-10.5%-30.3%
InterestRs m1,9813,2433,014-7.1%52.1%
Profit before taxRs m-3,167-4,427-4,097
TaxRs m-10440.0%
Profit after taxRs m-3,157-4,430-4,101
Gross profit margin%-33.1-50.0-58.6
Effective tax rate%0.3-0.1-0.1
Net profit margin%-97.8-180.6-235.5
* 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 46.5% on a year-on-year (YoY) basis. The expenses were down by 52.8% YoY during the same period.
  • The company's operating profit declined by 5.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 58.6% in 3QFY19 as against 33.1% in 3QFY18.
  • Depreciation charges declined by 30.3% and finance costs increased by 52.1% YoY, respectively.
  • Other income declined by 9.2% YoY during the quarter.
  • Net profit for the quarter declined by 29.9% YoY. Net profit margins during the quarter declined from -97.8% in 3QFY18 to -235.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 26.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 20.8% QoQ during the same period.
  • The company's operating profit declined by 14.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 58.6% in 3QFY19 as against 50.0% in 2QFY18.
  • Net profit for the quarter increased by 7.4% QoQ, while net profit margins declined from -180.5% in 2QFY18 to -235.5% in 3QFY19.

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 4.9 to Rs 0.8, registering a Loss of Rs 4.2 or around 84.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,753.4 (down 0.9%). Over the last one year it has moved down from 2,475.1 to 1,753.4, a gain of 722 points (down 29.2%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 0.8, the price to book value (P/BV) ratio of IVRCL LTD stands at 0.0 times.

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For the quarter ended March 2019, IVRCL has posted a net profit of Rs 3 bn (up 69.8% YoY). Sales on the other hand came in at Rs 1 bn (down 29.5% YoY). Read on for a complete analysis of IVRCL's quarterly results.

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