CYIENT LTD Announces Quarterly Results (2QFY19); Net Profit Up 17.7%

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CYIENT LTD Announces Quarterly Results (2QFY19); Net Profit Up 17.7%
Fri, 19 Oct

CYIENT LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

CYIENT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m9,65410,80011,8699.9%22.9%
Other incomeRs m412169569236.7%38.1%
TurnoverRs m10,06610,96912,43813.4%23.6%
ExpensesRs m8,2569,49410,2558.0%24.2%
Gross profitRs m1,3981,3071,55418.9%11.2%
DepreciationRs m259285228-20.0%-12.0%
InterestRs m52718722.5%67.3%
Profit before taxRs m1,4991,1201,80861.4%20.6%
TaxRs m42130453977.3%28.0%
Profit after taxRs m1,0788161,26955.5%17.7%
Gross profit margin%14.512.113.1
Effective tax rate%28.127.129.8
Net profit margin%10.77.410.2
* 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 22.9% on a year-on-year (YoY) basis. The expenses were up by 24.2% YoY during the same period.
  • The company's operating profit increased by 11.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 2QFY19 as against 14.5% in 2QFY18.
  • Depreciation charges declined by 12.0% and finance costs increased by 67.3% YoY, respectively.
  • Other income increased by 38.1% YoY during the quarter.
  • Net profit for the quarter increased by 17.7% YoY. Net profit margins during the quarter declined from 10.7% in 2QFY18 to 10.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.0% QoQ during the same period.
  • The company's operating profit increased by 18.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.1% in 2QFY19 as against 12.1% in 1QFY18.
  • Net profit for the quarter increased by 55.5% QoQ, while net profit margins increased from 7.4% in 1QFY18 to 10.2% in 2QFY19.

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

CYIENT LTD Share Price Performance

Over the last one year, CYIENT LTD share price has moved up from Rs 549.8 to Rs 663.9, registering a Gain of Rs 114.1 or around 20.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,233.0 (down 3.0%). Over the last one year it has moved up from 10,360.4 to 14,233.0, a gain of 3,873 points (up 37.4%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 663.9, the price to earnings (P/E) ratio of CYIENT LTD stands at 17.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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