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INDIABULLS REAL EST Announces Quarterly Results (1QFY19); Net Profit Down 43.0%

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INDIABULLS REAL EST Announces Quarterly Results (1QFY19); Net Profit Down 43.0%
Thu, 16 Aug

INDIABULLS REAL EST has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

INDIABULLS REAL EST Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m10,76820,2808,109-60.0%-24.7%
Other incomeRs m200400241-39.7%20.6%
TurnoverRs m10,96820,6808,350-59.6%-23.9%
ExpensesRs m7,0316605,646755.1%-19.7%
Gross profitRs m3,73719,6202,462-87.5%-34.1%
DepreciationRs m23823582-65.1%-65.5%
InterestRs m1,6162,2231,015-54.3%-37.2%
Profit before taxRs m2,08317,5621,606-90.9%-22.9%
TaxRs m5581,030737-28.4%32.2%
Profit after taxRs m1,52616,532869-94.7%-43.0%
Gross profit margin%34.796.730.4
Effective tax rate%26.85.945.9
Net profit margin%13.979.910.4
* 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 24.7% on a year-on-year (YoY) basis. The expenses were down by 19.7% YoY during the same period.
  • The company's operating profit declined by 34.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.4% in 1QFY19 as against 34.7% in 1QFY18.
  • Depreciation charges and finance costs declined by 65.5% YoY and 37.2% YoY, respectively.
  • Other income increased by 20.6% YoY during the quarter.
  • Net profit for the quarter declined by 43.0% YoY. Net profit margins during the quarter declined from 13.9% in 1QFY18 to 10.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 60.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 755.1% QoQ during the same period.
  • The company's operating profit declined by 87.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.4% in 1QFY19 as against 96.7% in 4QFY18.
  • Net profit for the quarter declined by 94.7% QoQ, while net profit margins declined from 79.9% in 4QFY18 to 10.4% in 1QFY19.

To see how INDIABULLS REAL EST has performed over the last eight quarters, please visit here.

INDIABULLS REAL EST Share Price Performance

Over the last one year, INDIABULLS REAL EST share price has moved up from Rs 229.8 to Rs 145.5, registering a Loss of Rs 84.3 or around 36.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,119.9 (down 0.4%). Over the last one year it has moved up from 2,094.8 to 2,119.9, a gain of 25 points (up 1.2%).

Overall, the S&P BSE SENSEX is up 20.1% over the year.

Current Valuations

At the current price of Rs 145.5, the price to earnings (P/E) ratio of INDIABULLS REAL EST stands at 3.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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