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3I INFOTECH LTD. Announces Quarterly Results (1QFY19); Net Profit Down 65.0%

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3I INFOTECH LTD. Announces Quarterly Results (1QFY19); Net Profit Down 65.0%
Thu, 26 Jul

3I INFOTECH LTD. has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

3I INFOTECH LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m2,3936632,420265.0%1.1%
Other incomeRs m76437880.8%2.8%
TurnoverRs m2,4697062,498253.7%1.2%
ExpensesRs m2,1354272,143401.9%0.4%
Gross profitRs m259365144-60.6%-44.4%
DepreciationRs m23162025.2%-9.7%
InterestRs m1271141172.5%-7.3%
Profit before taxRs m18627884-69.6%-54.6%
TaxRs m130240.0%85.3%
Profit after taxRs m17327860-78.2%-65.0%
Gross profit margin%10.855.05.9
Effective tax rate%7.00.028.4
Net profit margin%7.039.32.4
* 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 1.1% on a year-on-year (YoY) basis. The expenses were up by 0.4% YoY during the same period.
  • The company's operating profit declined by 44.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.9% in 1QFY19 as against 10.8% in 1QFY18.
  • Depreciation charges and finance costs declined by 9.7% YoY and 7.3% YoY, respectively.
  • Other income increased by 2.8% YoY during the quarter.
  • Net profit for the quarter declined by 65.0% YoY. Net profit margins during the quarter declined from 7.0% in 1QFY18 to 2.4% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 265.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 401.9% QoQ during the same period.
  • The company's operating profit declined by 60.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.9% in 1QFY19 as against 55.0% in 4QFY18.
  • Net profit for the quarter declined by 78.2% QoQ, while net profit margins declined from 39.4% in 4QFY18 to 2.4% in 1QFY19.

To see how 3I INFOTECH LTD. has performed over the last eight quarters, please visit here.

3I INFOTECH LTD. Share Price Performance

Over the last one year, 3I INFOTECH LTD. share price has moved up from Rs 4.4 to Rs 3.6, registering a Loss of Rs 0.9 or around 19.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,584.2 (down 0.2%). Over the last one year it has moved up from 10,437.2 to 14,584.2, a gain of 4,147 points (up 39.7%).

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

Current Valuations

At the current price of Rs 3.6, the price to earnings (P/E) ratio of 3I INFOTECH LTD. stands at 4.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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For the quarter ended December 2018, 3I INFOTECH LTD. has posted a net profit of Rs 180 m (down 20.9% YoY). Sales on the other hand came in at Rs 3 bn (up 29.1% YoY). Read on for a complete analysis of 3I INFOTECH LTD.'s quarterly results.

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