NIIT LTD Announces Quarterly Results (2QFY19); Net Profit Up 137.3%

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NIIT LTD Announces Quarterly Results (2QFY19); Net Profit Up 137.3%
Fri, 9 Nov

NIIT LTD has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m9027832,285191.9%153.2%
Other incomeRs m244919-90.1%-96.3%
TurnoverRs m1,1468742,294162.4%100.2%
ExpensesRs m9208032,082159.3%126.4%
Gross profitRs m-20-20476
DepreciationRs m63608440.1%34.1%
InterestRs m50435630.5%11.8%
Profit before taxRs m111-32344211.4%
TaxRs m11836246.6%16528.0%
Profit after taxRs m110-33261137.3%
Gross profit margin%-2.2-2.620.8
Effective tax rate%0.5-4.124.1
Net profit margin%9.6-3.811.4
* 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 153.2% on a year-on-year (YoY) basis. The expenses were up by 126.4% YoY during the same period.
  • The company's operating profit declined by 2477.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.8% in 2QFY19 as against 2.2% in 2QFY18.
  • Depreciation charges increased by 34.1% and finance costs increased by 11.8% YoY, respectively.
  • Other income declined by 96.3% YoY during the quarter.
  • Net profit for the quarter increased by 137.3% YoY. Net profit margins during the quarter increased from 9.6% in 2QFY18 to 11.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 191.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 159.3% QoQ during the same period.
  • The company's operating profit increased by 2442.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.8% in 2QFY19 as against 2.6% in 1QFY18.
  • Net profit for the quarter increased by 887.2% QoQ, while net profit margins increased from -3.8% in 1QFY18 to 11.4% in 2QFY19.

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 96.7 to Rs 73.2, registering a Loss of Rs 23.5 or around 24.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,162.8 (down 1.5%). Over the last one year it has moved up from 10,756.5 to 14,162.8, a gain of 3,406 points (up 31.7%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 73.2, the price to earnings (P/E) ratio of NIIT LTD stands at 50.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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