ECLERX SERVICES Announces Quarterly Results (4QFY19); Net Profit Down 8.4%

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ECLERX SERVICES Announces Quarterly Results (4QFY19); Net Profit Down 8.4%
Mon, 27 May

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

ECLERX SERVICES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,6113,5763,6512.1%1.1%
Other incomeRs m16109650215.8%-40.6%
TurnoverRs m3,7723,5773,7474.8%-0.7%
ExpensesRs m2,7982,9102,844-2.3%1.6%
Gross profitRs m82266780821.1%-1.8%
DepreciationRs m1291231283.6%-0.8%
InterestRs m00027.3%55.6%
Profit before taxRs m85554477542.6%-9.3%
TaxRs m20715418318.6%-11.8%
Profit after taxRs m64739059352.1%-8.4%
Gross profit margin%22.818.622.1
Effective tax rate%24.328.423.6
Net profit margin%17.210.915.8
* 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 1.1% on a year-on-year (YoY) basis. The expenses were up by 1.6% YoY during the same period.
  • The company's operating profit declined by 1.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.1% in 4QFY19 as against 22.8% in 4QFY18.
  • Depreciation charges declined by 0.8% and finance costs increased by 55.6% YoY, respectively.
  • Other income declined by 40.6% YoY during the quarter.
  • Net profit for the quarter declined by 8.4% YoY. Net profit margins during the quarter declined from 17.2% in 4QFY18 to 15.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.3% QoQ during the same period.
  • The company's operating profit increased by 21.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.1% in 4QFY19 as against 18.6% in 3QFY18.
  • Net profit for the quarter increased by 52.1% QoQ, while net profit margins increased from 10.9% in 3QFY18 to 15.8% in 4QFY19.

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 1,274.8 to Rs 929.7, registering a Loss of Rs 345.1 or around 27.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,148.3 (up 0.2%). Over the last one year it has moved up from 13,549.5 to 15,148.3, a gain of 1,599 points (up 11.8%).

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

Current Valuations

At the current price of Rs 929.7, the price to earnings (P/E) ratio of ECLERX SERVICES stands at 16.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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