PSP PROJECTS LTD Announces Quarterly Results (3QFY19); Net Profit Up 41.4%

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PSP PROJECTS LTD Announces Quarterly Results (3QFY19); Net Profit Up 41.4%
Fri, 15 Feb

PSP PROJECTS LTD has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

PSP PROJECTS LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,7082,0992,61124.4%52.9%
Other incomeRs m325448-11.1%49.8%
TurnoverRs m1,7402,1542,65923.5%52.8%
ExpensesRs m1,4421,8062,24424.3%55.6%
Gross profitRs m26629436724.9%38.2%
DepreciationRs m2858627.2%124.4%
InterestRs m232323-0.8%-3.6%
Profit before taxRs m24726733123.6%34.0%
TaxRs m959211626.2%22.1%
Profit after taxRs m15217621522.2%41.4%
Gross profit margin%15.514.014.1
Effective tax rate%38.534.435.1
Net profit margin%8.78.28.1
* 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 52.9% on a year-on-year (YoY) basis. The expenses were up by 55.6% YoY during the same period.
  • The company's operating profit increased by 38.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 3QFY19 as against 15.5% in 3QFY18.
  • Depreciation charges increased by 124.4% and finance costs declined by 3.6% YoY, respectively.
  • Other income increased by 49.8% YoY during the quarter.
  • Net profit for the quarter increased by 41.4% YoY. Net profit margins during the quarter declined from 8.7% in 3QFY18 to 8.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 24.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 24.3% QoQ during the same period.
  • The company's operating profit increased by 24.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.1% in 3QFY19 as against 14.0% in 2QFY18.
  • Net profit for the quarter increased by 22.2% QoQ, while net profit margins declined from 8.2% in 2QFY18 to 8.1% in 3QFY19.

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

PSP PROJECTS LTD Share Price Performance

Over the last one year, PSP PROJECTS LTD share price has moved up from Rs 495.2 to Rs 382.1, registering a Loss of Rs 113.1 or around 22.8%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,734.8 (down 0.5%). Over the last one year it has moved down from 2,501.4 to 1,734.8, a gain of 767 points (down 30.6%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 382.1, the price to earnings (P/E) ratio of PSP PROJECTS LTD stands at 16.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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