NCC Announces Quarterly Results (3QFY20); Net Profit Down 39.2%

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NCC Announces Quarterly Results (3QFY20); Net Profit Down 39.2%
Tue, 11 Feb

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

NCC Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m33,78719,38322,81417.7%-32.5%
Other incomeRs m37060016-97.4%-95.7%
TurnoverRs m34,15619,98322,83014.2%-33.2%
ExpensesRs m29,64316,80220,18620.1%-31.9%
Gross profitRs m4,1442,4422,6347.8%-36.4%
DepreciationRs m505518498-3.8%-1.5%
InterestRs m1,4301,4061,5016.7%4.9%
Profit before taxRs m2,5781,118651-41.8%-74.7%
TaxRs m887310-377-221.4%-142.5%
Profit after taxRs m1,6918081,02827.2%-39.2%
Gross profit margin%12.312.611.5
Effective tax rate%34.427.7-57.9
Net profit margin%4.94.04.5
* 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 32.5% on a year-on-year (YoY) basis. The expenses were down by 31.9% YoY during the same period.
  • The company's operating profit declined by 36.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.5% in 3QFY20.
  • Depreciation charges declined by 1.5% and finance costs increased by 4.9% YoY, respectively.
  • Other income declined by 95.7% YoY during the quarter.
  • Net profit for the quarter declined by 39.2% YoY. Net profit margins during the quarter declined from 4.9% in 3QFY19 to 4.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 17.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 20.1% QoQ during the same period.
  • The company's operating profit increased by 7.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 3QFY20 as against 12.6% in 2QFY19.
  • Net profit for the quarter increased by 27.2% QoQ, while net profit margins increased from 4.0% in 2QFY19 to 4.5% in 3QFY20.

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

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NCC Share Price Performance

Over the last one year,NCC share price has moved down from Rs 79.0 to Rs 49.5, registering a Loss of Rs 29.5 or around 37.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,427.9 (up 0.9%). Over the last one year it has moved up from 1,752.4 to 2,427.9, a gain of 675 points (up 38.5%).

Overall, the S&P BSE SENSEX is up 13.7% over the year.

Current Valuations

At the current price of Rs 49.5, 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 0.6 times.

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