MASTEK Announces Quarterly Results (4QFY19); Net Profit Up 41.3%

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MASTEK Announces Quarterly Results (4QFY19); Net Profit Up 41.3%
Thu, 18 Apr

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

MASTEK Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m2,2372,6502,6710.8%19.4%
Other incomeRs m71606915.1%-2.7%
TurnoverRs m2,3082,7102,7401.1%18.7%
ExpensesRs m1,9582,3102,3180.4%18.4%
Gross profitRs m2783403585.4%28.7%
DepreciationRs m3643430.2%19.3%
InterestRs m161411-18.5%-29.5%
Profit before taxRs m2983443738.7%25.4%
TaxRs m1047810026.9%-4.3%
Profit after taxRs m1942652743.3%41.3%
Gross profit margin%12.412.813.4
Effective tax rate%34.922.826.6
Net profit margin%8.49.810.0
* 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 19.4% on a year-on-year (YoY) basis. The expenses were up by 18.4% YoY during the same period.
  • The company's operating profit increased by 28.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.4% in 4QFY19 as against 12.4% in 4QFY18.
  • Depreciation charges increased by 19.3% and finance costs declined by 29.5% YoY, respectively.
  • Other income declined by 2.7% YoY during the quarter.
  • Net profit for the quarter increased by 41.3% YoY. Net profit margins during the quarter increased from 8.4% in 4QFY18 to 10.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.4% QoQ during the same period.
  • The company's operating profit increased by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.4% in 4QFY19 as against 12.8% in 3QFY18.
  • Net profit for the quarter increased by 3.3% QoQ, while net profit margins increased from 9.8% in 3QFY18 to 10.0% in 4QFY19.

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 585.5 to Rs 462.4, registering a Loss of Rs 123.2 or around 21.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,569.8 (down 0.1%). Over the last one year it has moved up from 12,608.4 to 15,569.8, a gain of 2,961 points (up 23.5%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 462.4, the price to earnings (P/E) ratio of MASTEK stands at 12.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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