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NCC Announces Quarterly Results (2QFY20); Net Profit Down 34.1%

NCC Announces Quarterly Results (2QFY20); Net Profit Down 34.1%
Mon, 11 Nov

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

NCC Quarterly Financials

No. of Mths Qtr. Ending		3 Sep-18*	3 Jun-19*	3 Sep-19*	QoQ Change	YoY Change
Net Sales	Rs m	32,428	23,470	19,383	-17.4%	-40.2%
Other income	Rs m	192	245	600	144.5%	212.8%
Turnover	Rs m	32,619	23,715	19,983	-15.7%	-38.7%
Expenses	Rs m	28,419	20,676	16,802	-18.7%	-40.9%
Gross profit	Rs m	3,592	2,794	2,442	-12.6%	-32.0%
Depreciation	Rs m	477	512	518	1.0%	8.5%
Interest	Rs m	1,257	1,368	1,406	2.8%	11.9%
Profit before tax	Rs m	2,050	1,159	1,118	-3.5%	-45.5%
Tax	Rs m	825	414	310	-25.0%	-62.4%
Profit after tax	Rs m	1,226	745	808	8.5%	-34.1%
Gross profit margin	%	11.1	11.9	12.6
Effective tax rate	%	40.2	35.7	27.7
Net profit margin	%	3.8	3.1	4.0

* 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 40.2% on a year-on-year (YoY) basis. The expenses were down by 40.9% YoY during the same period.
The company's operating profit declined by 32.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.6% in 2QFY20 as against 11.1% in 2QFY19.
Depreciation charges increased by 8.5% and finance costs increased by 11.9% YoY, respectively.
Other income increased by 212.8% YoY during the quarter.
Net profit for the quarter declined by 34.1% YoY. Net profit margins during the quarter increased from 3.8% in 2QFY19 to 4.0% in 2QFY20.

Quarter-on-Quarter Performance:

The company's operating income during the quarter fell 17.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 18.7% QoQ during the same period.
The company's operating profit declined by 12.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.6% in 2QFY20 as against 11.9% in 1QFY19.
Net profit for the quarter increased by 8.5% QoQ, while net profit margins increased from 3.1% in 1QFY19 to 4.0% in 2QFY20.

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 83.4 to Rs 56.6, registering a Loss of Rs 26.9 or around 32.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,160.7 (up 0.3%). Over the last one year it has moved up from 1,762.8 to 2,160.7, a gain of 398 points (up 22.6%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 56.6, the price to earnings (P/E) ratio of NCC stands at 6.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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NCC SHARE PRICE

BSE: 89.05 -2.20% NSE: 89.05 -2.41%
Feb 26, 2021 (Close)

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