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FIRSTSOURCE SOL. Announces Quarterly Results (1QFY19); Net Profit Up 35.5%

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FIRSTSOURCE SOL. Announces Quarterly Results (1QFY19); Net Profit Up 35.5%
Wed, 8 Aug

FIRSTSOURCE SOL. has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

FIRSTSOURCE SOL. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m8,7778,9739,1912.4%4.7%
Other incomeRs m50-2617-66.4%
TurnoverRs m8,8278,9479,2082.9%4.3%
ExpensesRs m7,7717,6487,9103.4%1.8%
Gross profitRs m1,0061,3251,281-3.3%27.3%
DepreciationRs m1531721804.4%17.7%
InterestRs m1098962-29.8%-42.9%
Profit before taxRs m7941,0381,0551.7%33.0%
TaxRs m14010916954.8%21.4%
Profit after taxRs m654929886-4.6%35.5%
Gross profit margin%11.514.813.9
Effective tax rate%17.610.516.0
Net profit margin%7.410.49.6
* 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 4.7% on a year-on-year (YoY) basis. The expenses were up by 1.8% YoY during the same period.
  • The company's operating profit increased by 27.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.9% in 1QFY19 as against 11.5% in 1QFY18.
  • Depreciation charges and finance costs increased by 17.7% YoY and 42.9% YoY, respectively.
  • Other income declined by 66.4% YoY during the quarter.
  • Net profit for the quarter increased by 35.5% YoY. Net profit margins during the quarter increased from 7.4% in 1QFY18 to 9.6% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.4% QoQ during the same period.
  • The company's operating profit declined by 3.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 1QFY19 as against 14.8% in 4QFY18.
  • Net profit for the quarter declined by 4.6% QoQ, while net profit margins declined from 10.4% in 4QFY18 to 9.6% in 1QFY19.

To see how FIRSTSOURCE SOL. has performed over the last eight quarters, please visit here.

FIRSTSOURCE SOL. Share Price Performance

Over the last one year, FIRSTSOURCE SOL. share price has moved up from Rs 34.5 to Rs 67.3, registering a Gain of Rs 32.9 or around 95.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,549.3 (down 0.2%). Over the last one year it has moved up from 10,222.5 to 14,549.3, a gain of 4,327 points (up 42.3%).

Overall, the S&P BSE SENSEX is up 0.3% over the year.

Current Valuations

At the current price of Rs 67.3, the price to earnings (P/E) ratio of FIRSTSOURCE SOL. stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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