MASTEK Announces Quarterly Results (3QFY20); Net Profit Down 1.9%

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MASTEK Announces Quarterly Results (3QFY20); Net Profit Down 1.9%
Thu, 30 Jan

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

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m2,6502,4362,4370.0%-8.0%
Other incomeRs m6091964.7%58.6%
TurnoverRs m2,7102,5272,5320.2%-6.6%
ExpensesRs m2,3102,1502,101-2.3%-9.1%
Gross profitRs m3402872911.6%-14.4%
DepreciationRs m4356583.4%35.0%
InterestRs m1498-7.0%-40.7%
Profit before taxRs m3443133202.4%-6.8%
TaxRs m786660-9.3%-23.2%
Profit after taxRs m2652462605.6%-1.9%
Gross profit margin%12.811.811.9
Effective tax rate%22.821.218.8
Net profit margin%9.89.710.3
* 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 8.0% on a year-on-year (YoY) basis. The expenses were down by 9.1% YoY during the same period.
  • The company's operating profit declined by 14.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.9% in 3QFY20 as against 12.8% in 3QFY19.
  • Depreciation charges increased by 35.0% and finance costs declined by 40.7% YoY, respectively.
  • Other income increased by 58.6% YoY during the quarter.
  • Net profit for the quarter declined by 1.9% YoY. Net profit margins during the quarter increased from 9.8% in 3QFY19 to 10.3% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.3% QoQ during the same period.
  • The company's operating profit increased by 1.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.9% in 3QFY20 as against 11.8% in 2QFY19.
  • Net profit for the quarter increased by 5.6% QoQ, while net profit margins increased from 9.7% in 2QFY19 to 10.3% in 3QFY20.

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 412.7 to Rs 440.0, registering a Gain of Rs 27.4 or around 6.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 16,113.7 (down 0.7%). Over the last one year it has moved up from 14,945.9 to 16,113.7, a gain of 1,168 points (up 7.8%).

Overall, the S&P BSE SENSEX is up 15.2% over the year.

Current Valuations

At the current price of Rs 440.0, the price to earnings (P/E) ratio of MASTEK stands at 11.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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