ALLSEC TEC Announces Quarterly Results (3QFY19); Net Profit Down 51.0%

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ALLSEC TEC Announces Quarterly Results (3QFY19); Net Profit Down 51.0%
Tue, 12 Feb

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

ALLSEC TEC Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m887688631-8.2%-28.9%
Other incomeRs m62013-34.3%123.3%
TurnoverRs m893708644-9.0%-27.9%
ExpensesRs m712648523-19.3%-26.5%
Gross profitRs m17540108173.2%-38.4%
DepreciationRs m11131410.4%23.2%
InterestRs m3110.0%-69.0%
Profit before taxRs m16747107129.2%-36.2%
TaxRs m15273219.7%109.1%
Profit after taxRs m1522074279.6%-51.0%
Gross profit margin%19.85.717.1
Effective tax rate%9.257.830.2
Net profit margin%17.02.811.5
* 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 28.9% on a year-on-year (YoY) basis. The expenses were down by 26.5% YoY during the same period.
  • The company's operating profit declined by 38.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.1% in 3QFY19 as against 19.8% in 3QFY18.
  • Depreciation charges increased by 23.2% and finance costs declined by 69.0% YoY, respectively.
  • Other income increased by 123.3% YoY during the quarter.
  • Net profit for the quarter declined by 51.0% YoY. Net profit margins during the quarter declined from 17.0% in 3QFY18 to 11.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 19.3% QoQ during the same period.
  • The company's operating profit increased by 173.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.1% in 3QFY19 as against 5.7% in 2QFY18.
  • Net profit for the quarter increased by 279.6% QoQ, while net profit margins increased from 2.8% in 2QFY18 to 11.5% in 3QFY19.

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 389.3 to Rs 173.0, registering a Loss of Rs 216.3 or around 55.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,391.3 (down 1.7%). Over the last one year it has moved up from 12,064.5 to 15,391.3, a gain of 3,327 points (up 27.6%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 173.0, 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 2.9 times.

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