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MASTEK Announces Quarterly Results (3QFY19); Net Profit Up 43.9%

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MASTEK Announces Quarterly Results (3QFY19); Net Profit Up 43.9%
Fri, 18 Jan

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

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,0952,5712,6503.1%26.5%
Other incomeRs m588760-30.8%3.4%
TurnoverRs m2,1532,6582,7102.0%25.9%
ExpensesRs m1,8382,2582,3102.3%25.7%
Gross profitRs m2573133408.6%32.3%
DepreciationRs m504843-10.0%-13.1%
InterestRs m152414-44.2%-8.2%
Profit before taxRs m2513283444.7%37.0%
TaxRs m6777781.7%17.9%
Profit after taxRs m1842512655.7%43.9%
Gross profit margin%12.312.212.8
Effective tax rate%26.523.522.8
Net profit margin%8.69.49.8
* 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 26.5% on a year-on-year (YoY) basis. The expenses were up by 25.7% YoY during the same period.
  • The company's operating profit increased by 32.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.8% in 3QFY19 as against 12.3% in 3QFY18.
  • Depreciation charges declined by 13.1% and finance costs declined by 8.2% YoY, respectively.
  • Other income increased by 3.4% YoY during the quarter.
  • Net profit for the quarter increased by 43.9% YoY. Net profit margins during the quarter increased from 8.6% in 3QFY18 to 9.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.3% QoQ during the same period.
  • The company's operating profit increased by 8.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.8% in 3QFY19 as against 12.2% in 2QFY18.
  • Net profit for the quarter increased by 5.7% QoQ, while net profit margins increased from 9.4% in 2QFY18 to 9.8% in 3QFY19.

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 up from Rs 398.0 to Rs 434.2, registering a Gain of Rs 36.2 or around 9.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,616.0 (down 0.2%). Over the last one year it has moved up from 12,199.5 to 14,616.0, a gain of 2,416 points (up 19.8%).

Overall, the S&P BSE SENSEX is up 3.6% over the year.

Current Valuations

At the current price of Rs 434.2, the price to earnings (P/E) ratio of MASTEK stands at 12.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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