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

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CYIENT Announces Quarterly Results (1QFY20); Net Profit Up 10.2%
Fri, 18 Oct

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.

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CYIENT Share Price Performance

Over the last one year,CYIENT share price has moved down from Rs 669.9 to Rs 448.1, registering a Loss of Rs 221.8 or around 33.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,428.5 (up 0.5%). Over the last one year it has moved up from 14,677.6 to 15,428.5, a gain of 751 points (up 5.1%).

Overall, the S&P BSE SENSEX is up 12.8% over the year.

Current Valuations

At the current price of Rs 448.1, the price to earnings (P/E) ratio of CYIENT stands at 11.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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