ECLERX SERVICES Announces Quarterly Results (1QFY20); Net Profit Down 33.7%

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ECLERX SERVICES Announces Quarterly Results (1QFY20); Net Profit Down 33.7%
Mon, 5 Aug

ECLERX SERVICES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,5193,6513,547-2.8%0.8%
Other incomeRs m19896960.4%-51.6%
TurnoverRs m3,7183,7473,643-2.8%-2.0%
ExpensesRs m2,7502,8442,8992.0%5.4%
Gross profitRs m770808648-19.8%-15.8%
DepreciationRs m9312817234.6%83.7%
InterestRs m004330778.6%53937.5%
Profit before taxRs m874775529-31.8%-39.5%
TaxRs m274183131-28.3%-52.2%
Profit after taxRs m600593398-32.8%-33.7%
Gross profit margin%21.922.118.3
Effective tax rate%31.323.624.8
Net profit margin%16.215.810.9
* 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 0.8% on a year-on-year (YoY) basis. The expenses were up by 5.4% YoY during the same period.
  • The company's operating profit declined by 15.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.3% in 1QFY20 as against 21.9% in 1QFY19.
  • Depreciation charges increased by 83.7% and finance costs increased by 53937.5% YoY, respectively.
  • Other income declined by 51.6% YoY during the quarter.
  • Net profit for the quarter declined by 33.7% YoY. Net profit margins during the quarter declined from 16.2% in 1QFY19 to 10.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit declined by 19.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.3% in 1QFY20 as against 22.1% in 4QFY19.
  • Net profit for the quarter declined by 32.8% QoQ, while net profit margins declined from 15.8% in 4QFY19 to 10.9% in 1QFY20.

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 down from Rs 1,256.1 to Rs 520.8, registering a Loss of Rs 735.3 or around 58.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,639.1 (up 0.7%). Over the last one year it has moved up from 14,604.4 to 15,639.1, a gain of 1,035 points (up 7.1%).

Overall, the S&P BSE SENSEX is down 1.4% over the year.

Current Valuations

At the current price of Rs 520.8, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 10.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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