Indiabulls Ventures Ltd's Q2FY19 consolidated net profit rises 60.6% qoq to Rs140.92cr : Beats Estimates

The company’s consolidated total income stood at Rs476.33cr, up 192.97% yoy and 38.23% qoq.

Oct 10, 2018 10:10 IST India Infoline Research Team

Indiabulls Ventures Ltd Q2FY19

Consolidated Results Q2FY19: (Rs. in cr)

Q2FY19 QoQ(%)
Operating revenue 476 38.2
Revenue- Financing activities 391 46.3
GNPA (%) 0.13 2
NNPA (%) 0.02 [1]
Net Profit 141 60.6
***GNPA and NNPA change is bps

Indiabulls Ventures Ltd’s revenue grew by 193% yoy and 38.2% qoq to Rs476cr. EBITDA came in at Rs330cr, up 223% yoy and up 40.7% qoq. EBITDA margin expanded by 650bps yoy and 121bps qoq to 69.19%. Company reported Adjusted PAT of Rs141cr, up 154.6% yoy and 60.6% qoq. Revenue and Adjusted PAT came above expectation of Rs414cr and Rs123cr respectively.  

• Its revenue from Broking & related activities and Financing & related activities came at Rs81cr (up 20.4% qoq) and Rs391cr (up 46.3% qoq) respectively.
• Wholly owned lending subsidiary IVL Finance (IVLF) is seeing strong growth in its business in various product lines.
• Total loan asset of IVLF stood at ~Rs10,140cr in Q2FY19 compared to ~ Rs6,482cr qoq.
• GNPA and NNPA of IVLF stood at 0.13% and 0.02% compared to 0.11% and 0.03% qoq.
• Other expenses stood at 13.9% of revenue vs. 10.5% qoq.
• Finance cost stood at 26.5% of revenue vs. 27% qoq.
• Well matched ALM: Average maturity of assets of around 23 months as compared to average maturity of liabilities of 45 months.
• Monthly repayment is expected to be 5% of the loan book going forward.

Technical View:

Indiabulls Ventures Ltd is currently trading at Rs. 374.90, down by 19.7 points or 4.99% from its previous closing of Rs. 394.60 on the BSE.
The scrip opened at Rs. 374.90 and has touched a high and low of Rs. 381 and Rs. 374.90 respectively. So far 73,83,907 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

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