PSP PROJECTS Announces Quarterly Results (1QFY20); Net Profit Up 21.1%

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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

PSP PROJECTS Announces Quarterly Results (1QFY20); Net Profit Up 21.1%
Tue, 13 Aug

PSP PROJECTS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

PSP PROJECTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m2,3473,3833,073-9.2%30.9%
Other incomeRs m616652-21.7%-14.7%
TurnoverRs m2,4083,4493,125-9.4%29.8%
ExpensesRs m2,0172,8842,646-8.2%31.2%
Gross profitRs m330499427-14.4%29.4%
DepreciationRs m487459-20.7%22.2%
InterestRs m153228-13.3%89.2%
Profit before taxRs m328459392-14.5%19.6%
TaxRs m117158137-13.1%16.9%
Profit after taxRs m211301255-15.3%21.1%
Gross profit margin%14.114.713.9
Effective tax rate%35.734.434.9
Net profit margin%8.88.78.2
* 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 30.9% on a year-on-year (YoY) basis. The expenses were up by 31.2% YoY during the same period.
  • The company's operating profit increased by 29.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.9% in 1QFY20.
  • Depreciation charges increased by 22.2% and finance costs increased by 89.2% YoY, respectively.
  • Other income declined by 14.7% YoY during the quarter.
  • Net profit for the quarter increased by 21.1% YoY. Net profit margins during the quarter declined from 8.8% in 1QFY19 to 8.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.2% QoQ during the same period.
  • The company's operating profit declined by 14.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 1QFY20 as against 14.7% in 4QFY19.
  • Net profit for the quarter declined by 15.3% QoQ, while net profit margins declined from 8.7% in 4QFY19 to 8.2% in 1QFY20.

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

PSP PROJECTS Share Price Performance

Over the last one year,PSP PROJECTS share price has moved up from Rs 474.2 to Rs 507.0, registering a Gain of Rs 32.9 or around 6.9%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,050.2 (up 0.0%). Over the last one year it has moved down from 2,089.7 to 2,050.2, a gain of 39 points (down 1.9%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 507.0, the price to earnings (P/E) ratio of PSP PROJECTS stands at 19.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.1 times.

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