ECLERX SERVICES Announces Quarterly Results (2QFY19); Net Profit Down 20.9%

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ECLERX SERVICES Announces Quarterly Results (2QFY19); Net Profit Down 20.9%
Mon, 5 Nov

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

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m3,3093,5193,5591.1%7.6%
Other incomeRs m134198192-3.2%42.8%
TurnoverRs m3,4433,7183,7510.9%8.9%
ExpensesRs m2,3492,7502,727-0.8%16.1%
Gross profitRs m1,1647708328.1%-28.5%
DepreciationRs m119931039.9%-13.8%
InterestRs m000-25.0%0.0%
Profit before taxRs m1,1798749215.3%-21.9%
TaxRs m294274221-19.4%-24.9%
Profit after taxRs m88560070016.6%-20.9%
Gross profit margin%35.221.923.4
Effective tax rate%24.931.324.0
Net profit margin%25.716.218.7
* 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 7.6% on a year-on-year (YoY) basis. The expenses were up by 16.1% YoY during the same period.
  • The company's operating profit declined by 28.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.4% in 2QFY19 as against 35.2% in 2QFY18.
  • Depreciation charges declined by 13.8% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 42.8% YoY during the quarter.
  • Net profit for the quarter declined by 20.9% YoY. Net profit margins during the quarter declined from 25.7% in 2QFY18 to 18.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.8% QoQ during the same period.
  • The company's operating profit increased by 8.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.4% in 2QFY19 as against 21.9% in 1QFY18.
  • Net profit for the quarter increased by 16.6% QoQ, while net profit margins increased from 16.1% in 1QFY18 to 18.7% in 2QFY19.

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 1,279.8 to Rs 1,063.1, registering a Loss of Rs 216.7 or around 16.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,081.8 (down 0.0%). Over the last one year it has moved up from 10,383.0 to 14,081.8, a gain of 3,699 points (up 35.6%).

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

Current Valuations

At the current price of Rs 1,063.1, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 17.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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