PSP PROJECTS Announces Quarterly Results (3QFY20); Net Profit Up 71.2%

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PSP PROJECTS Announces Quarterly Results (3QFY20); Net Profit Up 71.2%
Mon, 10 Feb

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

PSP PROJECTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m2,6113,1254,23135.4%62.0%
Other incomeRs m486958-15.8%19.5%
TurnoverRs m2,6593,1944,28834.3%61.3%
ExpensesRs m2,2442,6933,69037.0%64.4%
Gross profitRs m36743354125.0%47.4%
DepreciationRs m62627012.5%12.5%
InterestRs m23374010.3%79.6%
Profit before taxRs m33140248821.3%47.6%
TaxRs m1167512160.6%4.0%
Profit after taxRs m21532736712.3%71.2%
Gross profit margin%14.113.812.8
Effective tax rate%35.118.724.7
Net profit margin%8.110.28.6
* 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 62.0% on a year-on-year (YoY) basis. The expenses were up by 64.4% YoY during the same period.
  • The company's operating profit increased by 47.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.8% in 3QFY20 as against 14.1% in 3QFY19.
  • Depreciation charges increased by 12.5% and finance costs increased by 79.6% YoY, respectively.
  • Other income increased by 19.5% YoY during the quarter.
  • Net profit for the quarter increased by 71.2% YoY. Net profit margins during the quarter increased from 8.1% in 3QFY19 to 8.6% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 35.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 37.0% QoQ during the same period.
  • The company's operating profit increased by 25.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.8% in 3QFY20 as against 13.8% in 2QFY19.
  • Net profit for the quarter increased by 12.3% QoQ, while net profit margins declined from 10.2% in 2QFY19 to 8.6% in 3QFY20.

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

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PSP PROJECTS Share Price Performance

Over the last one year,PSP PROJECTS share price has moved up from Rs 388.7 to Rs 519.9, registering a Gain of Rs 131.2 or around 33.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,399.2 (down 1.4%). Over the last one year it has moved up from 1,768.7 to 2,399.2, a gain of 631 points (up 35.7%).

Overall, the S&P BSE SENSEX is up 10.5% over the year.

Current Valuations

At the current price of Rs 519.9, the price to earnings (P/E) ratio of PSP PROJECTS stands at 15.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.1 times.

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