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ECLERX SERVICES Announces Quarterly Results (1QFY19); Net Profit Down 24.2%

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ECLERX SERVICES Announces Quarterly Results (1QFY19); Net Profit Down 24.2%
Wed, 8 Aug

ECLERX SERVICES has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m3,3323,6113,519-2.5%5.6%
Other incomeRs m9616119823.2%105.9%
TurnoverRs m3,4283,7723,718-1.4%8.4%
ExpensesRs m2,3422,7982,750-1.7%17.4%
Gross profitRs m990822770-6.4%-22.2%
DepreciationRs m10912993-27.3%-14.1%
InterestRs m000-11.1%0.0%
Profit before taxRs m9778558742.3%-10.5%
TaxRs m18520727432.1%48.2%
Profit after taxRs m792647600-7.2%-24.2%
Gross profit margin%29.722.821.9
Effective tax rate%18.924.331.3
Net profit margin%23.117.216.2
* 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 grew 5.6% on a year-on-year (YoY) basis. The expenses were up by 17.4% YoY during the same period.
  • The company's operating profit declined by 22.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.9% in 1QFY19 as against 29.7% in 1QFY18.
  • Depreciation charges and finance costs declined by 14.1% YoY and 0.0% YoY, respectively.
  • Other income increased by 105.9% YoY during the quarter.
  • Net profit for the quarter declined by 24.2% YoY. Net profit margins during the quarter declined from 23.1% in 1QFY18 to 16.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.7% QoQ during the same period.
  • The company's operating profit declined by 6.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.9% in 1QFY19 as against 22.8% in 4QFY18.
  • Net profit for the quarter declined by 7.2% QoQ, while net profit margins declined from 17.2% in 4QFY18 to 16.2% in 1QFY19.

To see how ECLERX SERVICES has performed over the last eight quarters, please visit here.

ECLERX SERVICES Share Price Performance

Over the last one year, ECLERX SERVICES share price has moved up from Rs 1,307.1 to Rs 1,226.5, registering a Loss of Rs 80.6 or around 6.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,550.5 (down 0.2%). Over the last one year it has moved up from 10,222.5 to 14,550.5, a gain of 4,328 points (up 42.3%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 1,226.5, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 18.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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