Prestige Estates Projects Ltd's Q3FY19 consolidated net profit declines 32.06% yoy to Rs67.40cr : Misses Estimates
The company’s consolidated revenue stood at Rs1,077.60cr, down 15.3% yoy and 18.52% qoq.
Feb 12, 2019 08:02 IST India Infoline Research Team
Prestige Estates Projects Ltd Q3FY19
Consolidated Results Q3FY19: (Rs. in cr)
Q3FY19 | YoY (%) | |
---|---|---|
Revenue | 1,077.60 | [15.3] |
EBITDA | 343.70 | 13.2 |
EBITDA Margin (%) | 31.9 | 802 |
Net Profit (adjusted) | 67.40 | [32.1] |
----------------------------------------------------------------------------------------------------------------------------------------------------------------
- Operating profit was driven by lower operating expenses (down 12.1% yoy to Rs1000.1cr).
- However, bottom-line for the quarter suffered mainly owing to lower sales coupled with higher finance costs (up 31.7% yoy to Rs179.2cr).
- Depreciation and amortization expenses more than doubled from Rs40.5cr in Q3FY18 to Rs87cr in Q3FY19.
- Employee costs jumped 145.7% yoy to Rs102.3cr during the December quarter of FY19.
- Other expenses surged 77.1% yoy to Rs110cr while other income jumped 142.5% yoy to Rs25.2cr for the quarter under consideration.
Technical View:
Prestige Estates Projects Ltd is currently trading at Rs. 202, up by 1.25 points or 0.62% from its previous closing of Rs. 200.75 on the BSE.
The scrip opened at Rs. 201.20 and has touched a high and low of Rs. 202.50 and Rs. 198.60 respectively. So far 1,97,008 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.