UNITECH Announces Quarterly Results (2QFY19); Net Profit Down 189.8%

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UNITECH Announces Quarterly Results (2QFY19); Net Profit Down 189.8%
Tue, 27 Nov

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

UNITECH Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,40876394624.0%-60.7%
Other incomeRs m881754226.9%-38.7%
TurnoverRs m2,4967791,00028.3%-59.9%
ExpensesRs m2,7807651,571105.4%-43.5%
Gross profitRs m2,576-2-624-124.2%
DepreciationRs m21881.1%-60.6%
InterestRs m1,091736726-1.3%-33.4%
Profit before taxRs m1,553-730-1,305-184.0%
TaxRs m96040.0%-95.7%
Profit after taxRs m1,457-730-1,309-189.8%
Gross profit margin%107.0-0.3-66.0
Effective tax rate%6.20.0-0.3
Net profit margin%58.4-93.6-130.8
* 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 fell 60.7% on a year-on-year (YoY) basis. The expenses were down by 43.5% YoY during the same period.
  • The company's operating profit declined by 124.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 66.0% in 2QFY19 as against 107.0% in 2QFY18.
  • Depreciation charges declined by 60.6% and finance costs declined by 33.4% YoY, respectively.
  • Other income declined by 38.7% YoY during the quarter.
  • Net profit for the quarter declined by 189.8% YoY. Net profit margins during the quarter declined from 58.4% in 2QFY18 to -130.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 24.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 105.4% QoQ during the same period.
  • The company's operating profit declined by 32589.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 66.0% in 2QFY19 as against 0.3% in 1QFY18.
  • Net profit for the quarter declined by 79.4% QoQ, while net profit margins declined from -93.7% in 1QFY18 to -130.8% in 2QFY19.

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

UNITECH Share Price Performance

Over the last one year, UNITECH share price has moved up from Rs 6.3 to Rs 2.1, registering a Loss of Rs 4.1 or around 66.1%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 1,774.7 (up 0.9%). Over the last one year it has moved down from 2,415.1 to 1,774.7, a gain of 640 points (down 26.5%).

Overall, the S&P BSE SENSEX is up 5.2% over the year.

Current Valuations

At the current price of Rs 2.1, the price to book value (P/BV) ratio of UNITECH stands at 0.1 times.

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