FIRSTSOURCE SOL. Announces Quarterly Results (4QFY18); Net Profit Up 43.1%

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FIRSTSOURCE SOL. Announces Quarterly Results (4QFY18); Net Profit Up 43.1%
Fri, 20 Jul

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

FIRSTSOURCE SOL. Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m8,9238,8728,9731.1%0.6%
Other incomeRs m-526-26-197.7%
TurnoverRs m8,9198,8988,9470.6%0.3%
ExpensesRs m7,9337,7117,648-0.8%-3.6%
Gross profitRs m9901,1611,32514.1%33.8%
DepreciationRs m1101721720.3%56.0%
InterestRs m11410489-14.3%-22.1%
Profit before taxRs m7619121,03813.8%36.4%
TaxRs m112-84109-2.3%
Profit after taxRs m649996929-6.7%43.1%
Gross profit margin%11.113.114.8
Effective tax rate%14.7-9.210.5
Net profit margin%7.311.210.4
* 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 0.6% on a year-on-year (YoY) basis. The expenses were down by 3.6% YoY during the same period.
  • The company's operating profit increased by 33.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.8% in 4QFY18 as against 11.1% in 4QFY17.
  • Depreciation charges and finance costs increased by 56.0% YoY and 22.1% YoY, respectively.
  • Other income increased by 466.7% YoY during the quarter.
  • Net profit for the quarter increased by 43.1% YoY. Net profit margins during the quarter increased from 7.3% in 4QFY17 to 10.4% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.8% QoQ during the same period.
  • The company's operating profit increased by 14.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.8% in 4QFY18 as against 13.1% in 3QFY17.
  • Net profit for the quarter declined by 6.7% QoQ, while net profit margins declined from 11.2% in 3QFY17 to 10.4% in 4QFY18.

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 32.9 to Rs 71.1, registering a Gain of Rs 38.2 or around 116.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,610.3 (up 1.8%). Over the last one year it has moved up from 10,154.0 to 14,610.3, a gain of 4,456.3 points (up 43.9%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 71.1, the price to earnings (P/E) ratio of FIRSTSOURCE SOL. stands at 14.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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