NESCO Announces Quarterly Results (1QFY21); Net Profit Up 35.8%

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NESCO Announces Quarterly Results (1QFY21); Net Profit Up 35.8%
Tue, 1 Sep

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

NESCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m7831,177693-41.1%-11.4%
Other incomeRs m1313522063.1%1624.1%
TurnoverRs m7951,312914-30.4%14.9%
ExpensesRs m295464196-57.7%-33.6%
Gross profitRs m487714497-30.3%2.1%
DepreciationRs m31496534.3%111.9%
InterestRs m111914-25.1%31.3%
Profit before taxRs m458781638-18.3%39.2%
TaxRs m80252124-50.7%55.6%
Profit after taxRs m378529514-2.9%35.8%
Gross profit margin%62.360.671.7
Effective tax rate%17.432.319.5
Net profit margin%47.640.356.2
* 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 11.4% on a year-on-year (YoY) basis. The expenses were down by 33.6% YoY during the same period.
  • The company's operating profit increased by 2.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 71.7% in 1QFY21 as against 62.3% in 1QFY20.
  • Depreciation charges increased by 111.9% and finance costs increased by 31.3% YoY, respectively.
  • Other income increased by 1624.1% YoY during the quarter.
  • Net profit for the quarter increased by 35.8% YoY. Net profit margins during the quarter increased from 47.6% in 1QFY20 to 56.2% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 41.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 57.7% QoQ during the same period.
  • The company's operating profit declined by 30.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 71.7% in 1QFY21 as against 60.6% in 4QFY20.
  • Net profit for the quarter declined by 2.9% QoQ, while net profit margins increased from 40.3% in 4QFY20 to 56.2% in 1QFY21.

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

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

NESCO Share Price Performance

Over the last one year,NESCO share price has moved up from Rs 525.9 to Rs 538.1, registering a Gain of Rs 12.2 or around 2.3%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,738.3 (down 1.1%). Over the last one year it has moved down from 2,047.7 to 1,738.3, a gain of 309 points (down 15.1%).

Overall, the S&P BSE SENSEX is up 5.9% over the year.

Current Valuations

At the current price of Rs 538.1, the price to earnings (P/E) ratio of NESCO stands at 15.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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