NESCO Announces Quarterly Results (1QFY22); Net Profit Down 17.5%

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NESCO Announces Quarterly Results (1QFY22); Net Profit Down 17.5%
Mon, 16 Aug

NESCO has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

NESCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m693751727-3.2%4.8%
Other incomeRs m22010513125.2%-40.5%
TurnoverRs m9148558580.3%-6.1%
ExpensesRs m197275269-2.2%36.9%
Gross profitRs m497475458-3.7%-7.9%
DepreciationRs m6562654.4%-0.7%
InterestRs m142819-31.0%33.2%
Profit before taxRs m6384905053.0%-20.8%
TaxRs m1249381-12.7%-34.7%
Profit after taxRs m5133974246.6%-17.5%
Gross profit margin%71.663.363.0
Effective tax rate%19.519.016.1
Net profit margin%56.246.449.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 4.8% on a year-on-year (YoY) basis. The expenses were up by 36.9% YoY during the same period.
  • The company's operating profit declined by 7.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 63.0% in 1QFY22 as against 71.6% in 1QFY21.
  • Depreciation charges declined by 0.7% and finance costs increased by 33.2% YoY, respectively.
  • Other income declined by 40.5% YoY during the quarter.
  • Net profit for the quarter declined by 17.5% YoY. Net profit margins during the quarter declined from 56.2% in 1QFY21 to 49.4% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.2% QoQ during the same period.
  • The company's operating profit declined by 3.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 63.0% in 1QFY22 as against 63.3% in 4QFY21.
  • Net profit for the quarter increased by 6.6% QoQ, while net profit margins increased from 46.4% in 4QFY21 to 49.4% in 1QFY22.

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

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NESCO Share Price Performance

Over the last one year, NESCO share price has moved up from Rs 517.8 to Rs 591.5, registering a Gain of Rs 73.7 or around 14.2%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 3,147.8 (up 0.0%). Over the last one year it has moved up from 1,629.1 to 3,147.8, a gain of 1,519 points (up 93.2%).

Overall, the S&P BSE SENSEX is up 45.0% over the year.

Current Valuations

At the current price of Rs 591.5, the price to earnings (P/E) ratio of NESCO stands at 25.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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