BIRLASOFT Announces Quarterly Results (4QFY19); Net Profit Down 13.8%

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BIRLASOFT Announces Quarterly Results (4QFY19); Net Profit Down 13.8%
Mon, 27 May

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

BIRLASOFT Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m9,6645,6377,88339.8%-18.4%
Other incomeRs m19130170464.4%-11.0%
TurnoverRs m9,8555,6678,05242.1%-18.3%
ExpensesRs m8,5664,9867,26245.7%-15.2%
Gross profitRs m1,02665179722.4%-22.3%
DepreciationRs m25610213027.3%-49.4%
InterestRs m2928280.5%-3.1%
Profit before taxRs m93155280946.6%-13.2%
TaxRs m165173148-14.5%-10.4%
Profit after taxRs m76637866174.7%-13.8%
Gross profit margin%10.611.510.1
Effective tax rate%17.831.418.3
Net profit margin%7.86.78.2
* 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 fell 18.4% on a year-on-year (YoY) basis. The expenses were down by 15.2% YoY during the same period.
  • The company's operating profit declined by 22.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 4QFY19 as against 10.6% in 4QFY18.
  • Depreciation charges declined by 49.4% and finance costs declined by 3.1% YoY, respectively.
  • Other income declined by 11.0% YoY during the quarter.
  • Net profit for the quarter declined by 13.8% YoY. Net profit margins during the quarter increased from 7.8% in 4QFY18 to 8.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 39.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 45.7% QoQ during the same period.
  • The company's operating profit declined by 22.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.1% in 4QFY19 as against 11.5% in 3QFY18.
  • Net profit for the quarter increased by 74.7% QoQ, while net profit margins increased from 6.7% in 3QFY18 to 8.2% in 4QFY19.

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 up from Rs 169.3 to Rs 94.1, registering a Loss of Rs 75.2 or around 44.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,144.7 (up 0.1%). Over the last one year it has moved up from 13,549.5 to 15,144.7, a gain of 1,595 points (up 11.8%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 94.1, the price to earnings (P/E) ratio of BIRLASOFT stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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