ALLSEC TEC Announces Quarterly Results (2QFY19); Net Profit Down 88.5%

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ALLSEC TEC Announces Quarterly Results (2QFY19); Net Profit Down 88.5%
Fri, 23 Nov

ALLSEC TEC has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ALLSEC TEC Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m9126306889.2%-24.6%
Other incomeRs m172320-10.5%23.6%
TurnoverRs m9296537088.5%-23.8%
ExpensesRs m73553164821.9%-11.9%
Gross profitRs m1779840-59.9%-77.7%
DepreciationRs m111313-0.8%19.0%
InterestRs m31128.6%-69.0%
Profit before taxRs m18010847-56.9%-74.2%
TaxRs m927270.7%198.9%
Profit after taxRs m1718120-75.9%-88.5%
Gross profit margin%19.415.65.7
Effective tax rate%5.024.757.8
Net profit margin%18.412.42.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 24.6% on a year-on-year (YoY) basis. The expenses were down by 11.9% YoY during the same period.
  • The company's operating profit declined by 77.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.7% in 2QFY19 as against 19.4% in 2QFY18.
  • Depreciation charges increased by 19.0% and finance costs declined by 69.0% YoY, respectively.
  • Other income increased by 23.6% YoY during the quarter.
  • Net profit for the quarter declined by 88.5% YoY. Net profit margins during the quarter declined from 18.4% in 2QFY18 to 2.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 21.9% QoQ during the same period.
  • The company's operating profit declined by 59.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.7% in 2QFY19 as against 15.6% in 1QFY18.
  • Net profit for the quarter declined by 75.9% QoQ, while net profit margins declined from 12.4% in 1QFY18 to 2.8% in 2QFY19.

To see how ALLSEC TEC has performed over the last eight quarters, please visit here.

ALLSEC TEC Share Price Performance

Over the last one year, ALLSEC TEC share price has moved up from Rs 446.6 to Rs 216.7, registering a Loss of Rs 229.9 or around 51.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,443.5 (down 0.1%). Over the last one year it has moved up from 10,844.4 to 13,443.5, a gain of 2,599 points (up 24.0%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 216.7, the price to earnings (P/E) ratio of ALLSEC TEC stands at 8.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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