CYIENT Announces Quarterly Results (2QFY21); Net Profit Down 13.9%

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CYIENT Announces Quarterly Results (2QFY21); Net Profit Down 13.9%
Mon, 19 Oct

CYIENT has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

CYIENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m11,5893,40110,033195.0%-13.4%
Other incomeRs m26470493-86.8%-64.8%
TurnoverRs m11,8534,10510,126146.7%-14.6%
ExpensesRs m9,9862,6488,451219.1%-15.4%
Gross profitRs m1,6037531,582110.1%-1.3%
DepreciationRs m48726048486.2%-0.6%
InterestRs m12535101188.6%-19.2%
Profit before taxRs m1,2551,1621,090-6.2%-13.1%
TaxRs m281253251-0.8%-10.7%
Profit after taxRs m974909839-7.7%-13.9%
Gross profit margin%13.822.115.8
Effective tax rate%22.421.823.0
Net profit margin%8.222.18.3
* 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 fell 13.4% on a year-on-year (YoY) basis. The expenses were down by 15.4% YoY during the same period.
  • The company's operating profit declined by 1.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 2QFY21 as against 13.8% in 2QFY20.
  • Depreciation charges declined by 0.6% and finance costs declined by 19.2% YoY, respectively.
  • Other income declined by 64.8% YoY during the quarter.
  • Net profit for the quarter declined by 13.9% YoY. Net profit margins during the quarter increased from 8.2% in 2QFY20 to 8.3% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 195.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 219.1% QoQ during the same period.
  • The company's operating profit increased by 110.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 2QFY21 as against 22.1% in 1QFY20.
  • Net profit for the quarter declined by 7.7% QoQ, while net profit margins declined from 22.1% in 1QFY20 to 8.3% in 2QFY21.

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

Get Details: These 3 Stocks are the Dark Horses of the Stock Market

CYIENT Share Price Performance

Over the last one year, CYIENT share price has moved down from Rs 447.8 to Rs 392.0, registering a Loss of Rs 55.8 or around 12.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,783.1 (down 0.3%). Over the last one year it has moved up from 15,453.6 to 21,783.1, a gain of 6,330 points (up 41.0%).

Overall, the S&P BSE SENSEX is up 4.8% over the year.

Current Valuations

At the current price of Rs 392.0, the price to earnings (P/E) ratio of CYIENT stands at 13.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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