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Global Tele: Business mix drives profitability

Jul 26, 2000

Global Tele Systems has recorded a sharp growth of over 150% in profits (before extra ordinary income) for the quarter ended 30th June 2000. The company has benefited from a 145% YoY growth in business generated from e-commerce, software and internet services. Engineering services recorded a growth of over 14%.

(Rs m) 1QFY00 1QFY01 Change
Sales 778 1,038 33.5%
Other Income 22 84 280.4%
Expenditure 493 629 27.5%
Operating Profit (EBDIT) 285 410 43.9%
Operating Profit Margin (%) 36.6% 39.5%  
Interest 64 -  
Depreciation 113 164 45.2%
Profit before Tax 130 330 153.7%
Other Adjustments 0 1,319  
Tax 25 26 4.0%
Profit after Tax/(Loss) 105 1,623 1445.4%
Net profit margin (%) 13.5% 29.3%  
No. of shares (m) 28.4 43.4  
Diluted number of shares 43.4 43.4  
Diluted Earnings per share* 9.7 28.0  
*(annualised, excluding other adjustments)      

The company has realized extra ordinary income of Rs 1.3 bn during the quarter from the sale of shares (in lieu of debenture redemption) of Global Electronic Commerce Services, a group company.

The stock currently trades at Rs 1,019, implying a P/e multiple of 145x.


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