Embassy Office Parks REIT Q2 2023 Results: EPS Exceeds Expectations
Embassy Office Parks REIT (NSE:EMBASSY) Second Quarter 2023 Results
Main financial results
- Revenue: ₹8.96 billion (up 18% from Q2 2022).
- Net profit: ₹1.28 billion (down 35% from Q2 2022).
- Profit margin: 14% (compared to 26% in the 2nd quarter of 2022).
- The lower margin was driven by higher expenses.
- EPS: ₹1.36 (from ₹2.07 in Q2 2022).
All figures shown in the table above are for the 12 month period (TTM)
Embassy Office Parks REIT EPS falls short of expectations
Revenue is in line with analysts’ estimates. Earnings per share (EPS) missed analysts’ estimates by 28%.
Looking ahead, revenue is expected to grow by an average of 13% per year over the next 3 years, compared to a growth forecast of 6.0% for the REIT sector in Asia.
Market performance in India.
The company’s stock price is broadly unchanged from a week ago.
It should be noted, however, that we found 2 warning signs for Embassy Office Parks REIT (1 does not suit us too much!) that you must take into consideration.
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