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PSI: Cutting losses - Views on News from Equitymaster
 
 
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  • Oct 25, 2001

    PSI: Cutting losses

    PSI has the distinction of being one of the very few companies from the software sector that actually has managed to post a loss. For 3QFY02 the company posted a 10% sequential dip in topline and a net loss of Rs 16 m.

    In 2QFY02, the company had posted losses to the tune of Rs 48 m. The company has managed to cut its losses, inspite of falling topline, by controlling its costs. The other expenditure has come off by 26% sequentially. On a YoY basis the company has shown a dip in topline of 4%.

    (Rs m) 2QFY02 3QFY02 Change
    Sales 221 199 -9.9%
    Other Income 4 1 -73.2%
    Expenditure 260 206 -20.5%
    Operating Profit (EBDIT) (38) (7) -81.1%
    Operating Profit Margin (%) -17.4% -3.6%  
    Interest 3 2 -39.2%
    Depreciation 8 9 3.7%
    Profit before Tax (45) (16) -64.0%
    Tax 3 -  
    Profit after Tax/(Loss) (48) (16) -65.9%
    Net profit margin (%) -21.7% -8.2%  
    Diluted number of shares 7.6 7.6  
    Diluted Earnings per share* (25.3) (8.6) -65.9%
    P/E (at current price) - -  
    *(annualised)      

    The stock is trading at Rs 74 and is likely to see some downside in the valuations on back of this performance.

     

     

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