NCC Announces Quarterly Results (4QFY19); Net Profit Up 72.6%

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NCC Announces Quarterly Results (4QFY19); Net Profit Up 72.6%
Mon, 27 May

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

NCC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m23,94833,78737,61111.3%57.1%
Other incomeRs m24637050536.6%105.0%
TurnoverRs m24,19434,15638,11611.6%57.5%
ExpensesRs m20,90429,64332,85710.8%57.2%
Gross profitRs m2,7444,1444,075-1.7%48.5%
DepreciationRs m311505485-4.0%55.7%
InterestRs m9971,4301,334-6.7%33.8%
Profit before taxRs m1,6822,5782,7617.1%64.2%
TaxRs m65588798911.4%51.0%
Profit after taxRs m1,0271,6911,7734.9%72.6%
Gross profit margin%11.512.310.8
Effective tax rate%38.934.435.8
Net profit margin%4.24.94.7
* 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 57.1% on a year-on-year (YoY) basis. The expenses were up by 57.2% YoY during the same period.
  • The company's operating profit increased by 48.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.8% in 4QFY19.
  • Depreciation charges increased by 55.7% and finance costs increased by 33.8% YoY, respectively.
  • Other income increased by 105.0% YoY during the quarter.
  • Net profit for the quarter increased by 72.6% YoY. Net profit margins during the quarter increased from 4.2% in 4QFY18 to 4.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.8% QoQ during the same period.
  • The company's operating profit declined by 1.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.8% in 4QFY19 as against 12.3% in 3QFY18.
  • Net profit for the quarter increased by 4.9% QoQ, while net profit margins declined from 5.0% in 3QFY18 to 4.7% in 4QFY19.

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 up from Rs 118.8 to Rs 115.8, registering a Loss of Rs 3.0 or around 2.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,200.9 (up 1.6%). Over the last one year it has moved down from 2,239.4 to 2,200.9, a gain of 38 points (down 1.7%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 115.8, the price to earnings (P/E) ratio of NCC stands at 11.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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