NCC Announces Quarterly Results (1QFY20); Net Profit Down 28.2%

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NCC Announces Quarterly Results (1QFY20); Net Profit Down 28.2%
Tue, 13 Aug

NCC has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

NCC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m23,59637,61123,470-37.6%-0.5%
Other incomeRs m295505245-51.4%-17.0%
TurnoverRs m23,89138,11623,715-37.8%-0.7%
ExpensesRs m20,91832,85720,676-37.1%-1.2%
Gross profitRs m2,6784,0752,794-31.4%4.3%
DepreciationRs m3434855125.7%49.3%
InterestRs m1,0161,3341,3682.5%34.7%
Profit before taxRs m1,6142,7611,159-58.0%-28.2%
TaxRs m577989414-58.1%-28.3%
Profit after taxRs m1,0371,773745-58.0%-28.2%
Gross profit margin%11.310.811.9
Effective tax rate%35.835.835.7
Net profit margin%4.34.73.1
* 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 0.5% on a year-on-year (YoY) basis. The expenses were down by 1.2% YoY during the same period.
  • The company's operating profit increased by 4.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.9% in 1QFY20 as against 11.3% in 1QFY19.
  • Depreciation charges increased by 49.3% and finance costs increased by 34.7% YoY, respectively.
  • Other income declined by 17.0% YoY during the quarter.
  • Net profit for the quarter declined by 28.2% YoY. Net profit margins during the quarter declined from 4.3% in 1QFY19 to 3.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 37.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 37.1% QoQ during the same period.
  • The company's operating profit increased by 31.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.9% in 1QFY20 as against 10.8% in 4QFY19.
  • Net profit for the quarter declined by 58.0% QoQ, while net profit margins declined from 4.7% in 4QFY19 to 3.1% in 1QFY20.

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

NCC Share Price Performance

Over the last one year,NCC share price has moved down from Rs 97.3 to Rs 69.9, registering a Loss of Rs 27.4 or around 28.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,048.4 (down 0.0%). Over the last one year it has moved down from 2,089.7 to 2,048.4, a gain of 41 points (down 2.0%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 69.9, the price to earnings (P/E) ratio of NCC stands at 7.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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