i-flex Solutions' net profits for the quarter ended December 2002 (3QFY03) grew 17% sequentially. However, this is including a write off of Rs 38 m. Excluding the write off, profits have jumped 25% sequentially. Revenues have grown 11% QoQ. Highlight of the performance is the fact that the company has managed to improve operating margins. Consequently, the 11% sequential growth in revenues has translated to a 22% growth in operating profits. On a YoY basis, net profits have jumped by 51%.
(Rs m) | 2QFY03 | 3QFY03 | Growth |
Net Sales | 1,360 | 1,503 | 10.5% |
Other Income | 62 | 60 | -2.5% |
Expenditure | 872 | 910 | 4.4% |
Operating Profit (EBDIT) | 488 | 593 | 21.5% |
Operating Profit Margin (%) | 35.9% | 39.5% |
Interest | 0 | 0 | - |
Depreciation | 33 | 34 | 3.0% |
Profit before Tax | 517 | 620 | 19.8% |
Extraordinary items | -2 | -38 | - |
Tax | 66 | 54 | -17.7% |
Profit after Tax/(Loss) | 449 | 527 | 17.3% |
Net profit margin (%) | 33.0% | 35.1% |
No. of Shares | 37.3 | 37.3 |
Diluted Earnings per share* | 48.2 | 56.5 |
P/E Ratio | 14.8 |
(* annualised) |