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Hughes Software's astounding profit growth

Jul 27, 2000

Hughes Software has reported a YoY 128% jump in net profits to Rs 93 m in the 1QFY01. The margins of the company increased marginally by 50 basis points to 31.2%. The company's export revenues contributes 96% to its total turnover.

(Rs m) 1QFY00 1QFY01 Change
Sales 197 358 81.6%
Other Income 10 26 160.2%
Expenditure 137 246 80.4%
Operating Profit (EBDIT) 61 112 84.5%
Operating Profit Margin (%) 30.7% 31.2%  
Interest - -  
Depreciation 27 34 22.7%
Profit before Tax 43 104 140.8%
Tax 2 11 378.3%
Profit after Tax/(Loss) 40.80 92.80 127.5%
Net profit margin (%) 20.7% 25.9%  
No. of Shares (eoy) (m) 7.2 16.7  
Diluted number of shares 16.7 16.7  
Diluted Earnings per share* 9.8 22.3  

During the quarter the company has changed its revenue mix. Its product business now contributes 26% to total sales compared to 9% in the corresponding previous quarter.

At the current market price of Rs 2,601, Hughes Software is trading at a P/E multiple of 117 times.

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