ECLERX SERVICES Announces Quarterly Results (3QFY19); Net Profit Down 32.2%

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ECLERX SERVICES Announces Quarterly Results (3QFY19); Net Profit Down 32.2%
Fri, 1 Feb

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

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,3993,5593,5760.5%5.2%
Other incomeRs m111920-99.9%-98.2%
TurnoverRs m3,4103,7513,577-4.7%4.9%
ExpensesRs m2,4992,7272,9106.7%16.4%
Gross profitRs m900832667-19.9%-25.9%
DepreciationRs m12610312319.8%-2.2%
InterestRs m00083.3%-56.0%
Profit before taxRs m784921544-41.0%-30.7%
TaxRs m209221154-30.2%-26.4%
Profit after taxRs m575700390-44.4%-32.2%
Gross profit margin%26.523.418.6
Effective tax rate%26.724.028.4
Net profit margin%16.918.710.9
* 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 5.2% on a year-on-year (YoY) basis. The expenses were up by 16.4% YoY during the same period.
  • The company's operating profit declined by 25.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.6% in 3QFY19 as against 26.5% in 3QFY18.
  • Depreciation charges declined by 2.2% and finance costs declined by 56.0% YoY, respectively.
  • Other income declined by 98.2% YoY during the quarter.
  • Net profit for the quarter declined by 32.2% YoY. Net profit margins during the quarter declined from 16.9% in 3QFY18 to 10.9% in 3QFY19.
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 up by 6.7% QoQ during the same period.
  • The company's operating profit declined by 19.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.6% in 3QFY19 as against 23.4% in 2QFY18.
  • Net profit for the quarter declined by 44.4% QoQ, while net profit margins declined from 18.7% in 2QFY18 to 10.9% in 3QFY19.

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 1,559.7 to Rs 1,039.0, registering a Loss of Rs 520.7 or around 33.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,323.9 (up 0.4%). Over the last one year it has moved up from 12,545.6 to 15,323.9, a gain of 2,778 points (up 22.1%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 1,039.0, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 18.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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