Xinyuan Real Estate Company Ltd (XIN) has reported 36.55 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $12.13 million, or $0.18 a share in the quarter, compared with $19.12 million, or $0.26 a share for the same period last year. Revenue during the quarter grew 22.18 percent to $505.34 million from $413.59 million in the previous year period. Gross margin for the quarter expanded 534 basis points over the previous year period to 25.02 percent. Total expenses were 85.25 percent of quarterly revenues, down from 93.66 percent for the same period last year. This has led to an improvement of 841 basis points in operating margin to 14.75 percent.
Operating income for the quarter was $74.55 million, compared with $26.22 million in the previous year period.
Debt moves up
Xinyuan Real Estate has witnessed an increase in total debt over the last one year. It stood at $2,111.76 million as on Dec. 31, 2016, up 20.70 percent or $362.16 million from $1,749.60 million on Dec. 31, 2015. Interest coverage ratio improved to 5.63 for the quarter from 4.94 for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
