FIRSTSOURCE SOL. Announces Quarterly Results (2QFY19); Net Profit Up 35.0%

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FIRSTSOURCE SOL. Announces Quarterly Results (2QFY19); Net Profit Up 35.0%
Mon, 5 Nov

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

FIRSTSOURCE SOL. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m8,7309,1919,5473.9%9.4%
Other incomeRs m4175-69.6%19.9%
TurnoverRs m8,7349,2089,5523.7%9.4%
ExpensesRs m7,6337,9108,2193.9%7.7%
Gross profitRs m1,0971,2811,3283.7%21.1%
DepreciationRs m1621801842.3%13.4%
InterestRs m10262654.0%-36.3%
Profit before taxRs m8371,0551,0842.7%29.6%
TaxRs m149169156-7.6%4.9%
Profit after taxRs m6888869284.7%35.0%
Gross profit margin%12.613.913.9
Effective tax rate%17.816.014.4
Net profit margin%7.99.69.7
* 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 9.4% on a year-on-year (YoY) basis. The expenses were up by 7.7% YoY during the same period.
  • The company's operating profit increased by 21.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.9% in 2QFY19 as against 12.6% in 2QFY18.
  • Depreciation charges increased by 13.4% and finance costs declined by 36.3% YoY, respectively.
  • Other income increased by 19.9% YoY during the quarter.
  • Net profit for the quarter increased by 35.0% YoY. Net profit margins during the quarter increased from 7.9% in 2QFY18 to 9.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.9% QoQ during the same period.
  • The company's operating profit declined by 3.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 2QFY19 as against 13.9% in 1QFY18.
  • Net profit for the quarter increased by 4.7% QoQ, while net profit margins increased from 9.6% in 1QFY18 to 9.7% in 2QFY19.

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 41.1 to Rs 58.4, registering a Gain of Rs 17.3 or around 42.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,117.4 (up 0.2%). Over the last one year it has moved up from 10,383.0 to 14,117.4, a gain of 3,734 points (up 36.0%).

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

Current Valuations

At the current price of Rs 58.4, the price to earnings (P/E) ratio of FIRSTSOURCE SOL. stands at 10.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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FIRSTSOURCE SOL. Announces Quarterly Results (2QFY20); Net Profit Down 27.4% (Quarterly Result Update)

Nov 8, 2019 | Updated on Nov 8, 2019

For the quarter ended September 2019, FIRSTSOURCE SOL. has posted a net profit of Rs 674 m (down 27.4% YoY). Sales on the other hand came in at Rs 10 bn (up 3.2% YoY). Read on for a complete analysis of FIRSTSOURCE SOL.'s quarterly results.

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For the quarter ended June 2019, FIRSTSOURCE SOL. has posted a net profit of Rs 912 m (up 2.9% YoY). Sales on the other hand came in at Rs 10 bn (up 6.6% YoY). Read on for a complete analysis of FIRSTSOURCE SOL.'s quarterly results.

FIRSTSOURCE SOL. 2017-18 Annual Report Analysis (Annual Result Update)

Mar 18, 2019 | Updated on Mar 18, 2019

Here's an analysis of the annual report of FIRSTSOURCE SOL. for 2017-18. It includes a full income statement, balance sheet and cash flow analysis of FIRSTSOURCE SOL.. Also includes updates on the valuation of FIRSTSOURCE SOL..

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