Tata Infotech's profits dip by 11% - Views on News from Equitymaster

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Tata Infotech's profits dip by 11%

Nov 3, 2000

Tata Infotech's 2Q profits declined by 11% due to higher overseas business expenditure and increase in consumption of raw material.

(Rs m) 2QFY00 2QFY01 Change
Sales 1,002 1,338 33.5%
Other Income 25 13 -47.6%
Expenditure 899 1,236 37.6%
Operating Profit (EBDIT) 104 101 -2.1%
Operating Profit Margin (%) 10.3% 7.6%  
Interest 9 8 -12.2%
Depreciation 43 41 -3.0%
Profit before Tax 77 65 -15.1%
Tax 5 1 -88.9%
Profit after Tax/(Loss) 72 65 -10.5%
Net profit margin (%) 7.2% 4.8%  
No. of Shares (eoy) (m) 12.3 18.4  
Diluted number of shares 18.4 18.4  
Diluted Earnings per share* 15.7 14.1  
P/E (at current price) 17 19  

The increase in overseas business expenses is primarily on account of higher percentage of onsite work and expenditure incurred on strengthening the marketing infrastructure. The initiatives taken by the company will help it to gain wide international customer base.

At the current market price of Rs 272 Tata Infotech is trading at a P/E of 19 times its 2QFY01 annualised earnings.

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