i-flex Solutions: Net jumps 17% QoQ - Views on News from Equitymaster

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i-flex Solutions: Net jumps 17% QoQ

Jan 30, 2003

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)
 
 
 

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