KPIT TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Down 38.9%

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KPIT TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Down 38.9%
Wed, 16 Jan

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

KPIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m9,12810,7895,637-47.8%-38.2%
Other incomeRs m257030-57.1%18.4%
TurnoverRs m9,15310,8595,667-47.8%-38.1%
ExpensesRs m8,1399,3234,986-46.5%-38.7%
Gross profitRs m9891,466651-55.6%-34.2%
DepreciationRs m204368102-72.3%-50.0%
InterestRs m245728-51.4%13.4%
Profit before taxRs m7871,112552-50.4%-29.9%
TaxRs m168235173-26.2%3.5%
Profit after taxRs m619876378-56.8%-38.9%
Gross profit margin%10.813.611.5
Effective tax rate%21.321.231.4
Net profit margin%6.88.16.7
* 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 fell 38.2% on a year-on-year (YoY) basis. The expenses were down by 38.7% YoY during the same period.
  • The company's operating profit declined by 34.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.5% in 3QFY19 as against 10.8% in 3QFY18.
  • Depreciation charges declined by 50.0% and finance costs increased by 13.4% YoY, respectively.
  • Other income increased by 18.4% YoY during the quarter.
  • Net profit for the quarter declined by 38.9% YoY. Net profit margins during the quarter declined from 6.8% in 3QFY18 to 6.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 47.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 46.5% QoQ during the same period.
  • The company's operating profit declined by 55.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.5% in 3QFY19 as against 13.6% in 2QFY18.
  • Net profit for the quarter declined by 56.8% QoQ, while net profit margins declined from 8.1% in 2QFY18 to 6.7% in 3QFY19.

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

KPIT TECHNOLOGIES Share Price Performance

Over the last one year, KPIT TECHNOLOGIES share price has moved up from Rs 201.7 to Rs 215.2, registering a Gain of Rs 13.5 or around 6.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,556.8 (up 0.5%). Over the last one year it has moved up from 12,029.0 to 14,556.8, a gain of 2,528 points (up 21.0%).

Overall, the S&P BSE SENSEX is up 4.3% over the year.

Current Valuations

At the current price of Rs 215.2, the price to earnings (P/E) ratio of KPIT TECHNOLOGIES stands at 14.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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