NESCO Announces Quarterly Results (4QFY19); Net Profit Up 20.1%

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NESCO Announces Quarterly Results (4QFY19); Net Profit Up 20.1%
Thu, 30 May

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

NESCO Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7558859355.6%23.8%
Other incomeRs m601301332.3%121.6%
TurnoverRs m8151,0151,0685.2%31.0%
ExpensesRs m226381283-25.8%25.1%
Gross profitRs m52950565229.3%23.2%
DepreciationRs m303326-22.7%-15.2%
InterestRs m1591450.9%-5.0%
Profit before taxRs m54459274526.0%37.0%
TaxRs m11617123235.2%99.0%
Profit after taxRs m42842051422.2%20.1%
Gross profit margin%70.157.069.8
Effective tax rate%21.429.031.1
Net profit margin%52.541.448.1
* 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 23.8% on a year-on-year (YoY) basis. The expenses were up by 25.1% YoY during the same period.
  • The company's operating profit increased by 23.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 69.8% in 4QFY19.
  • Depreciation charges declined by 15.2% and finance costs declined by 5.0% YoY, respectively.
  • Other income increased by 121.6% YoY during the quarter.
  • Net profit for the quarter increased by 20.1% YoY. Net profit margins during the quarter declined from 52.5% in 4QFY18 to 48.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 25.8% QoQ during the same period.
  • The company's operating profit increased by 29.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 69.8% in 4QFY19 as against 57.0% in 3QFY18.
  • Net profit for the quarter increased by 22.2% QoQ, while net profit margins increased from 41.4% in 3QFY18 to 48.1% in 4QFY19.

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

NESCO Share Price Performance

Over the last one year, NESCO share price has moved up from Rs 558.4 to Rs 518.0, registering a Loss of Rs 40.4 or around 7.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,954.5 (up 0.2%). Over the last one year it has moved up from 18,940.8 to 19,954.5, a gain of 1,014 points (up 5.4%).

Overall, the S&P BSE SENSEX is up 13.6% over the year.

Current Valuations

At the current price of Rs 518.0, the price to earnings (P/E) ratio of NESCO stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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