NCC Announces Quarterly Results (4QFY20); Net Profit Down 62.4%

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NCC Announces Quarterly Results (4QFY20); Net Profit Down 62.4%
Mon, 1 Jun

NCC has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

NCC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m37,61122,81423,3442.3%-37.9%
Other incomeRs m505162691602.5%-46.7%
TurnoverRs m38,11622,83023,6133.4%-38.0%
ExpensesRs m32,85720,18620,4741.4%-37.7%
Gross profitRs m4,0752,6342,507-4.8%-38.5%
DepreciationRs m485498465-6.7%-4.2%
InterestRs m1,3341,5011,264-15.8%-5.3%
Profit before taxRs m2,7616511,04860.9%-62.1%
TaxRs m989-377381-61.5%
Profit after taxRs m1,7731,028667-35.1%-62.4%
Gross profit margin%10.811.510.7
Effective tax rate%35.8-57.936.3
Net profit margin%4.74.52.8
* 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 37.9% on a year-on-year (YoY) basis. The expenses were down by 37.7% YoY during the same period.
  • The company's operating profit declined by 38.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 10.7% in 4QFY20.
  • Depreciation charges declined by 4.2% and finance costs declined by 5.3% YoY, respectively.
  • Other income declined by 46.7% YoY during the quarter.
  • Net profit for the quarter declined by 62.4% YoY. Net profit margins during the quarter declined from 4.7% in 4QFY19 to 2.8% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.4% QoQ during the same period.
  • The company's operating profit declined by 4.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.7% in 4QFY20 as against 11.5% in 3QFY19.
  • Net profit for the quarter declined by 35.1% QoQ, while net profit margins declined from 4.5% in 3QFY19 to 2.8% in 4QFY20.

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 97.9 to Rs 26.0, registering a Loss of Rs 71.9 or around 73.5%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,465.4 (up 3.8%). Over the last one year it has moved down from 2,200.7 to 1,465.4, a loss of 735 points (down 33.4%).

Overall, the S&P BSE SENSEX is down 15.8% over the year.

Current Valuations

At the current price of Rs 26.0, the price to earnings (P/E) ratio of NCC stands at 4.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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