CYIENT Announces Quarterly Results (4QFY20); Net Profit Down 73.4%

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CYIENT Announces Quarterly Results (4QFY20); Net Profit Down 73.4%
Thu, 14 May

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

CYIENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m11,62911,05910,736-2.9%-7.7%
Other incomeRs m7894985398.2%-31.7%
TurnoverRs m12,41811,55711,275-2.4%-9.2%
ExpensesRs m9,9639,5379,8032.8%-1.6%
Gross profitRs m1,6311,522933-38.7%-42.8%
DepreciationRs m2614694792.1%83.5%
InterestRs m831191255.0%50.6%
Profit before taxRs m2,0761,432868-39.4%-58.2%
TaxRs m31833340120.4%26.1%
Profit after taxRs m1,7581,099467-57.5%-73.4%
Gross profit margin%14.013.88.7
Effective tax rate%15.323.346.2
Net profit margin%14.29.54.1
* 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 7.7% on a year-on-year (YoY) basis. The expenses were down by 1.6% YoY during the same period.
  • The company's operating profit declined by 42.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 4QFY20 as against 14.0% in 4QFY19.
  • Depreciation charges increased by 83.5% and finance costs increased by 50.6% YoY, respectively.
  • Other income declined by 31.7% YoY during the quarter.
  • Net profit for the quarter declined by 73.4% YoY. Net profit margins during the quarter declined from 14.2% in 4QFY19 to 4.1% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit declined by 38.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 8.7% in 4QFY20 as against 13.8% in 3QFY19.
  • Net profit for the quarter declined by 57.5% QoQ, while net profit margins declined from 9.5% in 3QFY19 to 4.1% in 4QFY20.

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 561.1 to Rs 206.9, registering a Loss of Rs 354.2 or around 63.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,564.5 (down 2.4%). Over the last one year it has moved down from 15,328.5 to 13,564.5, a loss of 1,764 points (down 11.5%).

Overall, the S&P BSE SENSEX is down 15.0% over the year.

Current Valuations

At the current price of Rs 206.9, the price to earnings (P/E) ratio of CYIENT stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.9 times.

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