MASTEK Announces Quarterly Results (1QFY21); Net Profit Up 92.3%

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MASTEK Announces Quarterly Results (1QFY21); Net Profit Up 92.3%
Fri, 21 Aug

MASTEK has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m2,4753,3673,86114.7%56.0%
Other incomeRs m51175167-4.6%225.5%
TurnoverRs m2,5273,5424,02813.7%59.4%
ExpensesRs m2,1472,7853,17914.2%48.1%
Gross profitRs m32940768167.5%107.2%
DepreciationRs m577711447.9%99.0%
InterestRs m81125119.3%204.9%
Profit before taxRs m31549370943.8%125.4%
TaxRs m72104243134.7%236.2%
Profit after taxRs m24238946619.6%92.3%
Gross profit margin%13.312.117.6
Effective tax rate%23.021.034.3
Net profit margin%9.611.011.6
* 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 56.0% on a year-on-year (YoY) basis. The expenses were up by 48.1% YoY during the same period.
  • The company's operating profit increased by 107.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.6% in 1QFY21 as against 13.3% in 1QFY20.
  • Depreciation charges increased by 99.0% and finance costs increased by 204.9% YoY, respectively.
  • Other income increased by 225.5% YoY during the quarter.
  • Net profit for the quarter increased by 92.3% YoY. Net profit margins during the quarter increased from 9.6% in 1QFY20 to 11.6% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 14.2% QoQ during the same period.
  • The company's operating profit increased by 67.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.6% in 1QFY21 as against 12.1% in 4QFY20.
  • Net profit for the quarter increased by 19.6% QoQ, while net profit margins increased from 11.0% in 4QFY20 to 11.6% in 1QFY21.

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

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MASTEK Share Price Performance

Over the last one year,MASTEK share price has moved up from Rs 311.5 to Rs 732.9, registering a Gain of Rs 421.5 or around 135.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 18,274.6 (down 0.2%). Over the last one year it has moved up from 15,773.0 to 18,274.6, a gain of 2,502 points (up 15.9%).

Overall, the S&P BSE SENSEX is up 3.2% over the year.

Current Valuations

At the current price of Rs 732.9, the price to earnings (P/E) ratio of MASTEK stands at 14.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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