PARSVNATH DEV Announces Quarterly Results (2QFY19); Net Profit Up 37.4%

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PARSVNATH DEV Announces Quarterly Results (2QFY19); Net Profit Up 37.4%
Tue, 27 Nov

PARSVNATH DEV has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

PARSVNATH DEV Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m211478200-58.2%-5.4%
Other incomeRs m28242713.1%-4.7%
TurnoverRs m239501226-54.8%-5.3%
ExpensesRs m366581207-64.4%-43.5%
Gross profitRs m-155-103-7
DepreciationRs m2723241.6%-12.7%
InterestRs m3172512686.7%-15.4%
Profit before taxRs m-471-354-272
TaxRs m-137-85-63
Profit after taxRs m-334-269-209
Gross profit margin%-73.4-21.5-3.5
Effective tax rate%29.123.923.2
Net profit margin%-139.6-53.6-92.3
* 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 5.4% on a year-on-year (YoY) basis. The expenses were down by 43.5% YoY during the same period.
  • The company's operating profit declined by 95.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.5% in 2QFY19 as against 73.4% in 2QFY18.
  • Depreciation charges declined by 12.7% and finance costs declined by 15.4% YoY, respectively.
  • Other income declined by 4.7% YoY during the quarter.
  • Net profit for the quarter increased by 37.4% YoY. Net profit margins during the quarter increased from -139.6% in 2QFY18 to -92.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 58.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 64.4% QoQ during the same period.
  • The company's operating profit increased by 93.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 3.5% in 2QFY19 as against 21.5% in 1QFY18.
  • Net profit for the quarter increased by 22.3% QoQ, while net profit margins declined from -53.7% in 1QFY18 to -92.3% in 2QFY19.

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

PARSVNATH DEV Share Price Performance

Over the last one year, PARSVNATH DEV share price has moved up from Rs 29.4 to Rs 7.8, registering a Loss of Rs 21.6 or around 73.4%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,772.3 (up 0.8%). Over the last one year it has moved down from 2,415.1 to 1,772.3, a gain of 643 points (down 26.6%).

Overall, the S&P BSE SENSEX is up 5.1% over the year.

Current Valuations

At the current price of Rs 7.8, the price to book value (P/BV) ratio of PARSVNATH DEV stands at 0.1 times.

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