JAIPRAKASH ASSO. Announces Quarterly Results (3QFY19); Net Profit Up 34.0%

Mon, 11 Feb

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

JAIPRAKASH ASSO. Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	11,086	19,039	15,174	-20.3%	36.9%
Other income	Rs m	306	101	149	47.1%	-51.4%
Turnover	Rs m	11,392	19,140	15,322	-19.9%	34.5%
Expenses	Rs m	9,680	16,498	13,904	-15.7%	43.6%
Gross profit	Rs m	1,294	2,540	1,270	-50.0%	-1.9%
Depreciation	Rs m	997	990	984	-0.7%	-1.4%
Interest	Rs m	2,084	2,057	1,413	-31.3%	-32.2%
Profit before tax	Rs m	-1,481	-407	-978
Tax	Rs m	0	0	0	0.0%	0.0%
Profit after tax	Rs m	-1,481	-407	-978
Gross profit margin	%	11.7	13.3	8.4
Effective tax rate	%	0.0	0.0	0.0
Net profit margin	%	-13.0	-2.1	-6.4

Year-on-Year Performance:

• The company's operating income during the quarter grew 36.9% on a year-on-year (YoY) basis. The expenses were up by 43.6% YoY during the same period.
• The company's operating profit declined by 1.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.4% in 3QFY19 as against 11.7% in 3QFY18.
• Depreciation charges declined by 1.4% and finance costs declined by 32.2% YoY, respectively.
• Other income declined by 51.4% YoY during the quarter.
• Net profit for the quarter increased by 34.0% YoY. Net profit margins during the quarter increased from -13.0% in 3QFY18 to -6.4% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 20.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 15.7% QoQ during the same period.
• The company's operating profit declined by 50.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.4% in 3QFY19 as against 13.3% in 2QFY18.
• Net profit for the quarter declined by 140.3% QoQ, while net profit margins declined from -2.1% in 2QFY18 to -6.4% in 3QFY19.

To see how JAIPRAKASH ASSO. has performed over the last eight quarters, please visit here.

JAIPRAKASH ASSO. Share Price Performance

Over the last one year, JAIPRAKASH ASSO. share price has moved up from Rs 17.5 to Rs 5.0, registering a Loss of Rs 12.5 or around 71.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,750.5 (down 1.0%). Over the last one year it has moved down from 2,475.1 to 1,750.5, a gain of 725 points (down 29.3%).

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

Current Valuations

At the current price of Rs 5.0, the price to book value (P/BV) ratio of JAIPRAKASH ASSO. stands at 0.3 times.