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PRAJAY ENGG. Announces Quarterly Results (2QFY19); Net Profit Down 37.7%

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PRAJAY ENGG. Announces Quarterly Results (2QFY19); Net Profit Down 37.7%
Tue, 27 Nov

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

PRAJAY ENGG. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m854744-7.2%-48.2%
Other incomeRs m12111311.0%4.1%
TurnoverRs m975957-3.7%-41.7%
ExpensesRs m795656-0.5%-30.1%
Gross profitRs m6-8-12-308.9%
DepreciationRs m121010-0.1%-15.0%
InterestRs m4547493.4%7.7%
Profit before taxRs m-40-55-58
TaxRs m4-183-35.7%
Profit after taxRs m-44-37-61
Gross profit margin%6.5-17.8-26.3
Effective tax rate%-10.732.0-4.7
Net profit margin%-45.7-63.4-107.9
* 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 48.2% on a year-on-year (YoY) basis. The expenses were down by 30.1% YoY during the same period.
  • The company's operating profit declined by 308.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.3% in 2QFY19 as against 6.5% in 2QFY18.
  • Depreciation charges declined by 15.0% and finance costs increased by 7.7% YoY, respectively.
  • Other income increased by 4.1% YoY during the quarter.
  • Net profit for the quarter declined by 37.7% YoY. Net profit margins during the quarter declined from -45.7% in 2QFY18 to -107.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.5% QoQ during the same period.
  • The company's operating profit declined by 37.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.3% in 2QFY19 as against 17.8% in 1QFY18.
  • Net profit for the quarter declined by 63.8% QoQ, while net profit margins declined from -62.7% in 1QFY18 to -107.9% in 2QFY19.

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

PRAJAY ENGG. Share Price Performance

Over the last one year, PRAJAY ENGG. share price has moved up from Rs 11.5 to Rs 9.3, registering a Loss of Rs 2.1 or around 18.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,774.2 (up 0.9%). Over the last one year it has moved down from 2,415.1 to 1,774.2, a gain of 641 points (down 26.5%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 9.3, the price to book value (P/BV) ratio of PRAJAY ENGG. stands at 0.1 times.

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