Omaxe Ltd's Q2FY19 consolidated net profit declines 43.2% yoy to Rs10.68cr

The company’s consolidated revenue in the period stood at Rs451.52cr, up 25.7% yoy and 160.2% qoq.

Nov 14, 2018 05:11 IST India Infoline Research Team

Omaxe Ltd Q2FY19

Consolidated Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 451.52 25.7
EBITDA 41.18 [41.2]
EBITDA Margin (%) 9.1 [1,038]
Net Profit (adjusted) 10.68 [43.2]
***EBITDA margin change is bps
Omaxe Ltd’s consolidated revenues in Q2FY19 witnessed a strong growth of 25.7% yoy to Operating profit in the quarter dropped 41.2% yoy to Rs41.2cr. Operating margin plummeted from 19.5% in Q2FY18 to 9.1% in Q2FY19, more than half on a yoy basis. Profit after tax (PAT) dropped 43.2% to Rs10.7cr for the current quarter as compared to Rs18.8cr for the same quarter last year.
  • Operating profits disappointed owing to a sharp rise in direct expenses.
  • Net profit suffered owing to weak operating performance despite higher other income (up 59.5% yoy to Rs8.9cr) and a sharp drop in interest cost (down 22.7% yoy to Rs29.6cr) and tax expenses (down 53.3% yoy to Rs7.6cr).
  • Other expenses increased 7% yoy to Rs22cr in Q2FY19 vs. Rs20.6cr in Q2FY18.
  • Employee expenses were up 15.6% yoy to Rs18.2cr in the quarter under review.
  • Omaxe’s total borrowings at the close of H1FY19 stood at Rs1,405.1cr, up from Rs1,226.3cr at the end of FY18.
  • The company’s cash and bank balances at the end of H1FY19 was Rs259.3cr, slightly lower than Rs263.23cr at the close of FY18.

Technical View:

Omaxe Ltd share ended at Rs210.25, down 0.45 points, or 0.21%, from its previous close of Rs210.70 on the BSE. The scrip opened at Rs211.60 and touched a high and low of Rs211.60 and Rs209.45, respectively. A total of 4,24,364 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200-DMA.

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