ECLERX SERVICES Announces Quarterly Results (2QFY20); Net Profit Down 37.6%

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ECLERX SERVICES Announces Quarterly Results (2QFY20); Net Profit Down 37.6%
Thu, 14 Nov

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

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m3,5593,5473,5650.5%0.2%
Other incomeRs m1929686-10.4%-55.2%
TurnoverRs m3,7513,6433,6510.2%-2.7%
ExpensesRs m2,7272,8992,784-4.0%2.1%
Gross profitRs m83264878120.5%-6.2%
DepreciationRs m1031721772.8%71.8%
InterestRs m043479.8%79000.0%
Profit before taxRs m92152964321.5%-30.2%
TaxRs m22113120657.1%-6.8%
Profit after taxRs m7003984379.8%-37.6%
Gross profit margin%23.418.321.9
Effective tax rate%24.024.832.0
Net profit margin%18.710.912.0
* 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 0.2% on a year-on-year (YoY) basis. The expenses were up by 2.1% YoY during the same period.
  • The company's operating profit declined by 6.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.9% in 2QFY20 as against 23.4% in 2QFY19.
  • Depreciation charges increased by 71.8% and finance costs increased by 79000.0% YoY, respectively.
  • Other income declined by 55.2% YoY during the quarter.
  • Net profit for the quarter declined by 37.6% YoY. Net profit margins during the quarter declined from 18.7% in 2QFY19 to 12.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.0% QoQ during the same period.
  • The company's operating profit increased by 20.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.9% in 2QFY20 as against 18.3% in 1QFY19.
  • Net profit for the quarter increased by 9.8% QoQ, while net profit margins increased from 10.9% in 1QFY19 to 12.0% in 2QFY20.

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

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ECLERX SERVICES Share Price Performance

Over the last one year,ECLERX SERVICES share price has moved down from Rs 1,078.9 to Rs 450.6, registering a Loss of Rs 628.3 or around 58.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,312.0 (up 0.7%). Over the last one year it has moved up from 13,986.2 to 15,312.0, a gain of 1,326 points (up 9.5%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 450.6, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 10.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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Dec 6, 2019 03:31 PM

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