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REL.INDUS.INFRAS Announces Quarterly Results (1QFY20); Net Profit Down 10.6%

Mon, 15 Jul

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

REL.INDUS.INFRAS Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	212	209	204	-2.6%	-3.9%
Other income	Rs m	37	38	40	4.9%	5.8%
Turnover	Rs m	249	247	243	-1.5%	-2.5%
Expenses	Rs m	184	183	181	-0.9%	-1.7%
Gross profit	Rs m	28	26	22	-14.6%	-19.0%
Depreciation	Rs m	35	35	35	0.1%	1.1%
Interest	Rs m	0	0	0	0.0%	0.0%
Profit before tax	Rs m	30	28	26	-7.1%	-11.6%
Tax	Rs m	11	10	9	-4.9%	-13.4%
Profit after tax	Rs m	19	19	17	-8.2%	-10.6%
Gross profit margin	%	13.0	12.5	11.0
Effective tax rate	%	35.8	34.3	35.1
Net profit margin	%	7.7	7.6	7.1

Year-on-Year Performance:

• The company's operating income during the quarter fell 3.9% on a year-on-year (YoY) basis. The expenses were down by 1.7% YoY during the same period.
• The company's operating profit declined by 19.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.0% in 1QFY20 as against 13.0% in 1QFY19.
• Depreciation charges increased by 1.1% and finance costs increased by 0.0% YoY, respectively.
• Other income increased by 5.8% YoY during the quarter.
• Net profit for the quarter declined by 10.6% YoY. Net profit margins during the quarter declined from 7.7% in 1QFY19 to 7.1% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.9% QoQ during the same period.
• The company's operating profit declined by 14.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.0% in 1QFY20 as against 12.5% in 4QFY19.
• Net profit for the quarter declined by 8.2% QoQ, while net profit margins declined from 7.7% in 4QFY19 to 7.1% in 1QFY20.

To see how REL.INDUS.INFRAS has performed over the last eight quarters,please visit here.

REL.INDUS.INFRAS Share Price Performance

Over the last one year,REL.INDUS.INFRAS share price has moved down from Rs 425.4 to Rs 282.0, registering a Loss of Rs 143.4 or around 33.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,160.8 (down 0.1%). Over the last one year it has moved up from 2,061.0 to 2,160.8, a gain of 100 points (up 4.8%).

Overall, the S&P BSE SENSEX is up 6.3% over the year.

Current Valuations

At the current price of Rs 282.0, the price to earnings (P/E) ratio of REL.INDUS.INFRAS stands at 56.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.