CYIENT Announces Quarterly Results (1QFY20); Net Profit Up 10.2%

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CYIENT Announces Quarterly Results (1QFY20); Net Profit Up 10.2%
Mon, 22 Jul

CYIENT has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

CYIENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m10,80011,62910,890-6.4%0.8%
Other incomeRs m169789282-64.3%66.9%
TurnoverRs m10,96912,41811,172-10.0%1.9%
ExpensesRs m9,4949,9639,458-5.1%-0.4%
Gross profitRs m1,3071,6311,432-12.2%9.6%
DepreciationRs m28526144369.7%55.4%
InterestRs m718311741.0%64.8%
Profit before taxRs m1,1202,0761,154-44.4%3.0%
TaxRs m304318255-19.8%-16.1%
Profit after taxRs m8161,758899-48.9%10.2%
Gross profit margin%12.114.013.1
Effective tax rate%27.115.322.1
Net profit margin%7.414.28.0
* 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 0.8% on a year-on-year (YoY) basis. The expenses were down by 0.4% YoY during the same period.
  • The company's operating profit increased by 9.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.1% in 1QFY20 as against 12.1% in 1QFY19.
  • Depreciation charges increased by 55.4% and finance costs increased by 64.8% YoY, respectively.
  • Other income increased by 66.9% YoY during the quarter.
  • Net profit for the quarter increased by 10.2% YoY. Net profit margins during the quarter increased from 7.4% in 1QFY19 to 8.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.1% QoQ during the same period.
  • The company's operating profit declined by 12.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 1QFY20 as against 14.0% in 4QFY19.
  • Net profit for the quarter declined by 48.9% QoQ, while net profit margins declined from 14.2% in 4QFY19 to 8.0% in 1QFY20.

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

CYIENT Share Price Performance

Over the last one year,CYIENT share price has moved down from Rs 703.0 to Rs 462.2, registering a Loss of Rs 240.8 or around 34.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,499.1 (up 0.3%). Over the last one year it has moved up from 14,572.2 to 15,499.1, a gain of 927 points (up 6.4%).

Overall, the S&P BSE SENSEX is up 4.7% over the year.

Current Valuations

At the current price of Rs 462.2, the price to earnings (P/E) ratio of CYIENT stands at 10.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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