PENINSULA LAND Announces Quarterly Results (3QFY19); Net Profit Down 125.4%

Tue, 12 Feb

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

PENINSULA LAND Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	2,775	61	1,052	1632.8%	-62.1%
Other income	Rs m	486	214	226	5.8%	-53.5%
Turnover	Rs m	3,261	275	1,278	365.5%	-60.8%
Expenses	Rs m	2,900	448	1,541	243.9%	-46.9%
Gross profit	Rs m	-125	-934	-547
Depreciation	Rs m	10	10	9	-4.1%	-7.8%
Interest	Rs m	837	550	613	11.3%	-26.8%
Profit before tax	Rs m	-486	-1,280	-943
Tax	Rs m	1	-2	154		17033.3%
Profit after tax	Rs m	-487	-1,278	-1,097
Gross profit margin	%	-4.5	-1,538.6	-52.0
Effective tax rate	%	-0.2	0.2	-16.4
Net profit margin	%	-14.9	-465.7	-85.8

Year-on-Year Performance:

• The company's operating income during the quarter fell 62.1% on a year-on-year (YoY) basis. The expenses were down by 46.9% YoY during the same period.
• The company's operating profit increased by 336.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 52.0% in 3QFY19 as against 4.5% in 3QFY18.
• Depreciation charges declined by 7.8% and finance costs declined by 26.8% YoY, respectively.
• Other income declined by 53.5% YoY during the quarter.
• Net profit for the quarter declined by 125.4% YoY. Net profit margins during the quarter declined from -14.9% in 3QFY18 to -85.8% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 1632.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 243.9% QoQ during the same period.
• The company's operating profit increased by 41.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 52.0% in 3QFY19 as against 1538.6% in 2QFY18.
• Net profit for the quarter increased by 14.2% QoQ, while net profit margins increased from -466.4% in 2QFY18 to -85.8% in 3QFY19.

To see how PENINSULA LAND has performed over the last eight quarters, please visit here.

PENINSULA LAND Share Price Performance

Over the last one year, PENINSULA LAND share price has moved up from Rs 31.5 to Rs 7.7, registering a Loss of Rs 23.8 or around 75.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,748.2 (down 0.2%). Over the last one year it has moved down from 2,518.0 to 1,748.2, a gain of 770 points (down 30.6%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 7.7, the price to book value (P/BV) ratio of PENINSULA LAND stands at 0.2 times.