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.

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

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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