SIMPLEX INFRA Announces Quarterly Results (2QFY19); Net Profit Down 12.0%

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SIMPLEX INFRA Announces Quarterly Results (2QFY19); Net Profit Down 12.0%
Tue, 27 Nov

SIMPLEX INFRA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

SIMPLEX INFRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m12,46015,84214,791-6.6%18.7%
Other incomeRs m294296207-30.3%-29.8%
TurnoverRs m12,75516,13914,998-7.1%17.6%
ExpensesRs m10,76514,07213,031-7.4%21.1%
Gross profitRs m1,6961,7701,760-0.6%3.8%
DepreciationRs m470452438-3.1%-6.9%
InterestRs m1,1761,2111,182-2.4%0.5%
Profit before taxRs m344404347-14.1%1.0%
TaxRs m66122103-15.2%55.3%
Profit after taxRs m278283244-13.6%-12.0%
Gross profit margin%13.611.211.9
Effective tax rate%19.330.129.7
Net profit margin%2.21.81.6
* 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 18.7% on a year-on-year (YoY) basis. The expenses were up by 21.1% YoY during the same period.
  • The company's operating profit increased by 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.9% in 2QFY19 as against 13.6% in 2QFY18.
  • Depreciation charges declined by 6.9% and finance costs increased by 0.5% YoY, respectively.
  • Other income declined by 29.8% YoY during the quarter.
  • Net profit for the quarter declined by 12.0% YoY. Net profit margins during the quarter declined from 2.2% in 2QFY18 to 1.6% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.4% QoQ during the same period.
  • The company's operating profit increased by 0.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.9% in 2QFY19 as against 11.2% in 1QFY18.
  • Net profit for the quarter declined by 13.6% QoQ, while net profit margins declined from 1.8% in 1QFY18 to 1.6% in 2QFY19.

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

SIMPLEX INFRA Share Price Performance

Over the last one year, SIMPLEX INFRA share price has moved up from Rs 540.2 to Rs 218.0, registering a Loss of Rs 322.2 or around 59.6%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,772.8 (up 0.8%). Over the last one year it has moved down from 2,415.1 to 1,772.8, a gain of 642 points (down 26.6%).

Overall, the S&P BSE SENSEX is up 5.1% over the year.

Current Valuations

At the current price of Rs 218.0, the price to earnings (P/E) ratio of SIMPLEX INFRA stands at 9.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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