SPML INFRA Announces Quarterly Results (1QFY20); Net Profit Down 26.9%

Tue, 20 Aug

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

SPML INFRA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-18*	3 Mar-19*	3 Jun-19*	QoQ Change	YoY Change
Net Sales	Rs m	3,271	3,609	2,051	-43.2%	-37.3%
Other income	Rs m	77	311	69	-77.9%	-11.1%
Turnover	Rs m	3,348	3,920	2,120	-45.9%	-36.7%
Expenses	Rs m	2,792	3,307	1,660	-49.8%	-40.6%
Gross profit	Rs m	479	303	391	29.2%	-18.2%
Depreciation	Rs m	15	-5	14		-6.2%
Interest	Rs m	386	409	375	-8.4%	-3.0%
Profit before tax	Rs m	154	209	71	-66.3%	-54.2%
Tax	Rs m	31	81	-19	-123.8%	-161.6%
Profit after tax	Rs m	123	128	90	-30.0%	-26.9%
Gross profit margin	%	14.6	8.4	19.1
Effective tax rate	%	20.2	38.7	-27.2
Net profit margin	%	3.7	3.3	4.2

Year-on-Year Performance:

• The company's operating income during the quarter fell 37.3% on a year-on-year (YoY) basis. The expenses were down by 40.6% YoY during the same period.
• The company's operating profit declined by 18.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.1% in 1QFY20 as against 14.6% in 1QFY19.
• Depreciation charges declined by 6.2% and finance costs declined by 3.0% YoY, respectively.
• Other income declined by 11.1% YoY during the quarter.
• Net profit for the quarter declined by 26.9% YoY. Net profit margins during the quarter increased from 3.7% in 1QFY19 to 4.2% in 1QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 43.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 49.8% QoQ during the same period.
• The company's operating profit increased by 29.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.1% in 1QFY20 as against 8.4% in 4QFY19.
• Net profit for the quarter declined by 30.0% QoQ, while net profit margins increased from 3.3% in 4QFY19 to 4.2% in 1QFY20.

To see how SPML INFRA has performed over the last eight quarters,please visit here.

SPML INFRA Share Price Performance

Over the last one year,SPML INFRA share price has moved down from Rs 68.6 to Rs 13.0, registering a Loss of Rs 55.6 or around 81.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,039.8 (down 0.6%). Over the last one year it has moved down from 2,149.0 to 2,039.8, a gain of 109 points (down 5.1%).

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 13.0, the price to earnings (P/E) ratio of SPML INFRA stands at 1.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.1 times.