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Digital: Growing strong, but... - Views on News from Equitymaster

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Digital: Growing strong, but...

Jan 13, 2004

Digital Globalsoft has announced good results for the quarter and nine-months ending December 2003. For the quarter, the company has reported a sequential growth of 11% and 12% for its topline and bottomline respectively. For nine-months, the YoY growth in revenues and profits has been 47% and 29% respectively. Digital has also managed to improve its operating margins for 3QFY04 by 90 basis points sequentially.

Financial performance: A snapshot
(Rs m) 2QFY04 3QFY04 Change 9mFY03 9mFY04 Change
Sales 1,456 1,618 11.1% 3,011 4,437 47.4%
Other Income 43 35 -18.1% 117 117 0.1%
Expenditure 1,074 1,178 9.7% 2,099 3,237 54.2%
Operating Profit (EBDIT) 383 440 15.0% 912 1,200 31.5%
Operating Profit Margin (%) 26.3% 27.2%   30.3% 27.0%  
Interest 1 1   2 3  
Depreciation 88 101 15.2% 201 267 32.7%
Profit before Tax 336 372 10.7% 826 1,047 26.8%
Extraordinary items (2) (10)   - (19)  
Tax 15 6 -58.2% 66 52 -22.0%
Profit after Tax/(Loss) 319 356 11.5% 760 976 28.5%
Net profit margin (%) 21.9% 22.0%   25.2% 22.0%  
No. of Shares 33.3 33.3   33.3 33.3  
Diluted Earnings per share* (Rs) 38.7 43.1   30.7 39.5  
P/E Ratio (x)   18.0     19.7  
(* annualised)            

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