BIRLASOFT Announces Quarterly Results (2QFY20); Net Profit Down 53.4%

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BIRLASOFT Announces Quarterly Results (2QFY20); Net Profit Down 53.4%
Tue, 12 Nov

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

BIRLASOFT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m10,7897,7727,734-0.5%-28.3%
Other incomeRs m708429-66.0%-59.0%
TurnoverRs m10,8597,8567,763-1.2%-28.5%
ExpensesRs m9,3237,0006,879-1.7%-26.2%
Gross profitRs m1,46677285510.8%-41.7%
DepreciationRs m368207204-1.1%-44.4%
InterestRs m574641-11.1%-27.8%
Profit before taxRs m1,1126046385.8%-42.6%
TaxRs m23518623024.1%-2.1%
Profit after taxRs m876418408-2.3%-53.4%
Gross profit margin%13.69.911.1
Effective tax rate%21.230.736.1
Net profit margin%8.15.35.3
* 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 28.3% on a year-on-year (YoY) basis. The expenses were down by 26.2% YoY during the same period.
  • The company's operating profit declined by 41.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.1% in 2QFY20 as against 13.6% in 2QFY19.
  • Depreciation charges declined by 44.4% and finance costs declined by 27.8% YoY, respectively.
  • Other income declined by 59.0% YoY during the quarter.
  • Net profit for the quarter declined by 53.4% YoY. Net profit margins during the quarter declined from 8.1% in 2QFY19 to 5.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.7% QoQ during the same period.
  • The company's operating profit increased by 10.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.1% in 2QFY20 as against 9.9% in 1QFY19.
  • Net profit for the quarter declined by 2.3% QoQ, while net profit margins declined from 5.3% in 1QFY19 to 5.3% in 2QFY20.

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

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BIRLASOFT Share Price Performance

Over the last one year,BIRLASOFT share price has moved down from Rs 134.0 to Rs 65.0, registering a Loss of Rs 69.0 or around 51.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,132.6 (down 0.7%). Over the last one year it has moved up from 14,250.4 to 15,132.6, a gain of 882 points (up 6.2%).

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 65.0, the price to earnings (P/E) ratio of BIRLASOFT stands at 6.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.7 times.

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