Mascot's 2Q profits up by 45% - Views on News from Equitymaster

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Mascot's 2Q profits up by 45%

Oct 28, 2000

Mascot Systems has reported a remarkable 45% quarter on quarter growth in profits to Rs 94 m. The company's operating margins also improved to 17.6% (from 14.9% in 1QFY01).

(Rs m) 1QFY01 2QFY01 Change
Sales 649 755 16.4%
Other Income 22 29 35.2%
Expenditure 552 622 12.7%
Operating Profit (EBDIT) 97 133 37.0%
Operating Profit Margin (%) 14.9% 17.6%  
Interest 6 4 -38.1%
Depreciation 22 25 13.4%
Profit before Tax 90 133 47.4%
Other Adjustments      
Tax 26 40 53.7%
Profit after Tax/(Loss) 65 94 44.9%
Net profit margin (%) 10.0% 12.4%  
Diluted number of shares 10.8 10.8  
Diluted Earnings per share* 23.9 34.7  
*(annualised)      
P/E (at current price) 13 9  

During the quarter the company has diversified its geographic mix. Revenues from US contributes 63% of total sales followed by 13% from Europe and 25% from Asia Pacific. The company provides solutions in the areas of e-business, application reengineering & maintenance and business intelligence.

At the current market price of Rs 301 Mascot is trading at a P/E multiple of 9 times its 2QFY01 annualsied earnings.

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