NIIT LTD Announces Quarterly Results (1QFY20); Net Profit Up 32964.8%

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NIIT LTD Announces Quarterly Results (1QFY20); Net Profit Up 32964.8%
Fri, 16 Aug

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

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m7832,3972,103-12.3%168.7%
Other incomeRs m9131224632.2%144.7%
TurnoverRs m8742,4282,327-4.2%166.2%
ExpensesRs m8032,2041,892-14.2%135.5%
Gross profitRs m-2016313,1247973.0%
DepreciationRs m608812844.8%113.0%
InterestRs m43506019.8%39.2%
Profit before taxRs m-325513,16023900.8%
TaxRs m1702,2523134.0%171795.4%
Profit after taxRs m-33-1510,908
Gross profit margin%-2.66.8624.0
Effective tax rate%-4.1127.017.1
Net profit margin%-3.8-0.6468.8
* 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 168.7% on a year-on-year (YoY) basis. The expenses were up by 135.5% YoY during the same period.
  • The company's operating profit declined by 64748.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 624.0% in 1QFY20 as against 2.6% in 1QFY19.
  • Depreciation charges increased by 113.0% and finance costs increased by 39.2% YoY, respectively.
  • Other income increased by 144.7% YoY during the quarter.
  • Net profit for the quarter increased by 32964.8% YoY. Net profit margins during the quarter increased from -3.8% in 1QFY19 to 468.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.2% QoQ during the same period.
  • The company's operating profit increased by 7973.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 624.0% in 1QFY20 as against 6.8% in 4QFY19.
  • Net profit for the quarter increased by 73801.6% QoQ, while net profit margins increased from -0.6% in 4QFY19 to 468.8% in 1QFY20.

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

NIIT LTD Share Price Performance

Over the last one year,NIIT LTD share price has moved up from Rs 91.3 to Rs 93.9, registering a Gain of Rs 2.6 or around 2.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,532.5 (down 0.5%). Over the last one year it has moved up from 15,015.5 to 15,532.5, a gain of 517 points (up 3.4%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 93.9, the price to earnings (P/E) ratio of NIIT LTD stands at 1.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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