NESCO LIMITED Announces Quarterly Results (3QFY19); Net Profit Down 4.1%

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NESCO LIMITED Announces Quarterly Results (3QFY19); Net Profit Down 4.1%
Fri, 22 Feb

NESCO LIMITED has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

NESCO LIMITED Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m8061,000885-11.5%9.8%
Other incomeRs m7751130154.6%68.1%
TurnoverRs m8831,0511,015-3.5%14.9%
ExpensesRs m22134038112.0%72.3%
Gross profitRs m585660505-23.6%-13.8%
DepreciationRs m2930338.8%12.5%
InterestRs m16149-33.5%-39.3%
Profit before taxRs m618667592-11.2%-4.2%
TaxRs m179174171-1.3%-4.4%
Profit after taxRs m438493420-14.7%-4.1%
Gross profit margin%72.666.057.0
Effective tax rate%29.026.029.0
Net profit margin%49.646.941.4
* 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 9.8% on a year-on-year (YoY) basis. The expenses were up by 72.3% YoY during the same period.
  • The company's operating profit declined by 13.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 57.0% in 3QFY19 as against 72.6% in 3QFY18.
  • Depreciation charges increased by 12.5% and finance costs declined by 39.3% YoY, respectively.
  • Other income increased by 68.1% YoY during the quarter.
  • Net profit for the quarter declined by 4.1% YoY. Net profit margins during the quarter declined from 49.6% in 3QFY18 to 41.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.0% QoQ during the same period.
  • The company's operating profit declined by 23.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 57.0% in 3QFY19 as against 66.0% in 2QFY18.
  • Net profit for the quarter declined by 14.7% QoQ, while net profit margins declined from 46.9% in 2QFY18 to 41.4% in 3QFY19.

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

NESCO LIMITED Share Price Performance

Over the last one year, NESCO LIMITED share price has moved up from Rs 584.9 to Rs 428.3, registering a Loss of Rs 156.7 or around 26.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,806.9 (up 0.2%). Over the last one year it has moved down from 18,690.1 to 16,806.9, a gain of 1,883 points (down 10.1%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 428.3, the price to earnings (P/E) ratio of NESCO LIMITED stands at 17.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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