CYIENT LTD Announces Quarterly Results (3QFY19); Net Profit Down 14.4%

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CYIENT LTD Announces Quarterly Results (3QFY19); Net Profit Down 14.4%
Mon, 21 Jan

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

CYIENT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m9,83311,86911,8770.1%20.8%
Other incomeRs m297569187-67.1%-37.0%
TurnoverRs m10,13012,43812,064-3.0%19.1%
ExpensesRs m8,43010,25510,135-1.2%20.2%
Gross profitRs m1,3601,5541,368-12.0%0.6%
DepreciationRs m27522828022.8%1.8%
InterestRs m518785-2.3%66.7%
Profit before taxRs m1,3311,8081,190-34.2%-10.6%
TaxRs m251539266-50.6%6.0%
Profit after taxRs m1,0801,269924-27.2%-14.4%
Gross profit margin%13.813.111.5
Effective tax rate%18.929.822.4
Net profit margin%10.710.27.7
* 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 20.8% on a year-on-year (YoY) basis. The expenses were up by 20.2% YoY during the same period.
  • The company's operating profit increased by 0.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 3QFY19 as against 13.8% in 3QFY18.
  • Depreciation charges increased by 1.8% and finance costs increased by 66.7% YoY, respectively.
  • Other income declined by 37.0% YoY during the quarter.
  • Net profit for the quarter declined by 14.4% YoY. Net profit margins during the quarter declined from 10.7% in 3QFY18 to 7.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.2% QoQ during the same period.
  • The company's operating profit declined by 12.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 3QFY19 as against 13.1% in 2QFY18.
  • Net profit for the quarter declined by 27.2% QoQ, while net profit margins declined from 10.2% in 2QFY18 to 7.7% in 3QFY19.

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 653.1 to Rs 605.0, registering a Loss of Rs 48.1 or around 7.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,787.5 (up 0.8%). Over the last one year it has moved up from 12,243.7 to 14,787.5, a gain of 2,544 points (up 20.8%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 605.0, the price to earnings (P/E) ratio of CYIENT LTD stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.9 times.

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