MASTEK Announces Quarterly Results (1QFY20); Net Profit Up 7.8%

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MASTEK Announces Quarterly Results (1QFY20); Net Profit Up 7.8%
Tue, 23 Jul

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

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m2,4402,6712,475-7.3%1.4%
Other incomeRs m316951-26.0%63.9%
TurnoverRs m2,4722,7402,527-7.8%2.2%
ExpensesRs m2,1312,3182,147-7.4%0.7%
Gross profitRs m309358329-8.2%6.3%
DepreciationRs m39435732.6%45.8%
InterestRs m13118-25.5%-34.9%
Profit before taxRs m289373315-15.7%8.9%
TaxRs m6410072-27.2%12.8%
Profit after taxRs m225274242-11.6%7.8%
Gross profit margin%12.713.413.3
Effective tax rate%22.226.623.0
Net profit margin%9.110.09.6
* 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 1.4% on a year-on-year (YoY) basis. The expenses were up by 0.7% YoY during the same period.
  • The company's operating profit increased by 6.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 13.3% in 1QFY20.
  • Depreciation charges increased by 45.8% and finance costs declined by 34.9% YoY, respectively.
  • Other income increased by 63.9% YoY during the quarter.
  • Net profit for the quarter increased by 7.8% YoY. Net profit margins during the quarter increased from 9.1% in 1QFY19 to 9.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.4% QoQ during the same period.
  • The company's operating profit declined by 8.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 1QFY20 as against 13.4% in 4QFY19.
  • Net profit for the quarter declined by 11.6% QoQ, while net profit margins declined from 10.0% in 4QFY19 to 9.6% in 1QFY20.

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

MASTEK Share Price Performance

Over the last one year,MASTEK share price has moved down from Rs 526.0 to Rs 410.4, registering a Loss of Rs 115.7 or around 22.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,553.6 (up 0.3%). Over the last one year it has moved up from 14,589.0 to 15,553.6, a gain of 965 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 3.3% over the year.

Current Valuations

At the current price of Rs 410.4, the price to earnings (P/E) ratio of MASTEK stands at 10.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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