Tata Infotech's reports loss in the 1QFY01 - Views on News from Equitymaster

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Tata Infotech's reports loss in the 1QFY01

Aug 11, 2000

Tata Infotech has reported a net loss of Rs 9 m in the 1QFY01 compared to profits of Rs 93 m in 1QFY00. However compared to the loss of Rs 82 m for the quarter ended March 2000, the company has minimised the loss in the current quarter.

(Rs m)1QFY001QFY01Change
Sales 993 1,088 9.6%
Other Income 22 13 -42.9%
Expenditure 868 1,061 22.2%
Operating Profit (EBDIT) 125 27 -78.4%
Operating Profit Margin (%)12.6%2.5% 
Interest 7 7 0.0%
Depreciation 35 42 18.4%
Profit before Tax105-9-108.5%
Tax120-100.0%
Profit after Tax/(Loss) 93 (9)-109.6%
Net profit margin (%)9.4%-0.8% 
No. of Shares (eoy) (m) 12.3 18.4  
Diluted number of shares 18.4 18.4  
Diluted Earnings per share*20.2- 
*(annualised)   

During the quarter the company's overseas business expenditure shoot up by more than 100% to Rs 345 m which has led to lower profit margins and a drop in the profits. The major impact of the company's initiatives is likely to be seen only towards the end of the current financial year.

At the current market price of Rs 204, Tata Infotech is trading at a PER of 31 times its FY00 earnings.

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