ADANI PORTS & SEZ Announces Quarterly Results (3QFY19); Net Profit Up 41.8%

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ADANI PORTS & SEZ Announces Quarterly Results (3QFY19); Net Profit Up 41.8%
Tue, 26 Feb

ADANI PORTS & SEZ has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

ADANI PORTS & SEZ Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m26,88926,08028,2398.3%5.0%
Other incomeRs m2,3603,1433,4509.8%46.2%
TurnoverRs m29,24929,22331,6898.4%8.3%
ExpensesRs m7,33914,2306,125-57.0%-16.5%
Gross profitRs m17,99811,85022,11486.6%22.9%
DepreciationRs m2,9373,5203,429-2.6%16.8%
InterestRs m3,0333,4783,92612.9%29.4%
Profit before taxRs m14,3887,99618,209127.7%26.6%
TaxRs m4,3781,8534,020116.9%-8.2%
Profit after taxRs m10,0106,14214,190131.0%41.8%
Gross profit margin%66.945.478.3
Effective tax rate%30.423.222.1
Net profit margin%34.221.044.8
* 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 5.0% on a year-on-year (YoY) basis. The expenses were down by 16.5% YoY during the same period.
  • The company's operating profit increased by 22.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 78.3% in 3QFY19 as against 66.9% in 3QFY18.
  • Depreciation charges increased by 16.8% and finance costs increased by 29.4% YoY, respectively.
  • Other income increased by 46.2% YoY during the quarter.
  • Net profit for the quarter increased by 41.8% YoY. Net profit margins during the quarter increased from 34.2% in 3QFY18 to 44.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 57.0% QoQ during the same period.
  • The company's operating profit increased by 86.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 78.3% in 3QFY19 as against 45.4% in 2QFY18.
  • Net profit for the quarter increased by 131.0% QoQ, while net profit margins increased from 21.0% in 2QFY18 to 44.8% in 3QFY19.

To see how ADANI PORTS & SEZ has performed over the last eight quarters, please visit here.

ADANI PORTS & SEZ Share Price Performance

Over the last one year, ADANI PORTS & SEZ share price has moved up from Rs 414.9 to Rs 324.0, registering a Loss of Rs 90.9 or around 21.9%.

Overall, the S&P BSE SENSEX is up 4.6% over the year.

Current Valuations

At the current price of Rs 324.0, the price to earnings (P/E) ratio of ADANI PORTS & SEZ stands at 18.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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