CYIENT Announces Quarterly Results (3QFY20); Net Profit Up 18.9%

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CYIENT Announces Quarterly Results (3QFY20); Net Profit Up 18.9%
Mon, 20 Jan

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

CYIENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m11,87711,58911,059-4.6%-6.9%
Other incomeRs m18726449888.6%166.3%
TurnoverRs m12,06411,85311,557-2.5%-4.2%
ExpensesRs m10,1359,9869,537-4.5%-5.9%
Gross profitRs m1,3681,6031,522-5.1%11.3%
DepreciationRs m280487469-3.7%67.5%
InterestRs m85125119-4.8%40.0%
Profit before taxRs m1,1901,2551,43214.1%20.3%
TaxRs m26628133318.5%25.2%
Profit after taxRs m9249741,09912.8%18.9%
Gross profit margin%11.513.813.8
Effective tax rate%22.422.423.3
Net profit margin%7.78.29.5
* 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 6.9% on a year-on-year (YoY) basis. The expenses were down by 5.9% YoY during the same period.
  • The company's operating profit increased by 11.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.8% in 3QFY20 as against 11.5% in 3QFY19.
  • Depreciation charges increased by 67.5% and finance costs increased by 40.0% YoY, respectively.
  • Other income increased by 166.3% YoY during the quarter.
  • Net profit for the quarter increased by 18.9% YoY. Net profit margins during the quarter increased from 7.7% in 3QFY19 to 9.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.5% QoQ during the same period.
  • The company's operating profit declined by 5.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.8% in 3QFY20 as against 13.8% in 2QFY19.
  • Net profit for the quarter increased by 12.8% QoQ, while net profit margins increased from 8.2% in 2QFY19 to 9.5% in 3QFY20.

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 614.9 to Rs 460.8, registering a Loss of Rs 154.1 or around 25.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,948.6 (down 1.0%). Over the last one year it has moved up from 14,670.9 to 15,948.6, a gain of 1,278 points (up 8.7%).

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 460.8, the price to earnings (P/E) ratio of CYIENT stands at 10.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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