BIRLASOFT Announces Quarterly Results (1QFY20); Net Profit Down 49.4%

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BIRLASOFT Announces Quarterly Results (1QFY20); Net Profit Down 49.4%
Thu, 8 Aug

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

BIRLASOFT Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m10,1387,8837,772-1.4%-23.3%
Other incomeRs m16217084-50.2%-47.9%
TurnoverRs m10,3008,0527,856-2.4%-23.7%
ExpensesRs m8,9107,2627,000-3.6%-21.4%
Gross profitRs m1,228797772-3.1%-37.2%
DepreciationRs m27013020759.4%-23.6%
InterestRs m54284666.1%-14.2%
Profit before taxRs m1,066809604-25.4%-43.4%
TaxRs m24114818625.2%-22.9%
Profit after taxRs m826661418-36.7%-49.4%
Gross profit margin%12.110.19.9
Effective tax rate%22.618.330.7
Net profit margin%8.08.25.3
* 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 23.3% on a year-on-year (YoY) basis. The expenses were down by 21.4% YoY during the same period.
  • The company's operating profit declined by 37.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.9% in 1QFY20 as against 12.1% in 1QFY19.
  • Depreciation charges declined by 23.6% and finance costs declined by 14.2% YoY, respectively.
  • Other income declined by 47.9% YoY during the quarter.
  • Net profit for the quarter declined by 49.4% YoY. Net profit margins during the quarter declined from 8.0% in 1QFY19 to 5.3% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.6% QoQ during the same period.
  • The company's operating profit declined by 3.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.9% in 1QFY20 as against 10.1% in 4QFY19.
  • Net profit for the quarter declined by 36.7% QoQ, while net profit margins declined from 8.2% in 4QFY19 to 5.3% in 1QFY20.

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

BIRLASOFT Share Price Performance

Over the last one year,BIRLASOFT share price has moved down from Rs 189.2 to Rs 66.7, registering a Loss of Rs 122.5 or around 64.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,795.6 (up 1.0%). Over the last one year it has moved up from 14,566.6 to 15,795.6, a gain of 1,229 points (up 8.4%).

Overall, the S&P BSE SENSEX is down 2.6% over the year.

Current Valuations

At the current price of Rs 66.7, the price to earnings (P/E) ratio of BIRLASOFT stands at 5.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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