NIIT LTD Announces Quarterly Results (2QFY20); Net Profit Up 701.6%

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NIIT LTD Announces Quarterly Results (2QFY20); Net Profit Up 701.6%
Wed, 6 Nov

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

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m2,2852,1032,36512.5%3.5%
Other incomeRs m922440882.4%4406.0%
TurnoverRs m2,2942,3272,77419.2%20.9%
ExpensesRs m2,0821,8922,12112.1%1.9%
Gross profitRs m47613,124245-98.1%-48.5%
DepreciationRs m841281377.2%62.9%
InterestRs m566054-9.7%-3.7%
Profit before taxRs m34413,160462-96.5%34.1%
TaxRs m832,252-1,633-172.5%-2063.6%
Profit after taxRs m26110,9082,094-80.8%701.6%
Gross profit margin%20.8624.010.3
Effective tax rate%24.117.1-353.5
Net profit margin%11.4468.875.5
* 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 3.5% on a year-on-year (YoY) basis. The expenses were up by 1.9% YoY during the same period.
  • The company's operating profit declined by 48.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.3% in 2QFY20 as against 20.8% in 2QFY19.
  • Depreciation charges increased by 62.9% and finance costs declined by 3.7% YoY, respectively.
  • Other income increased by 4406.0% YoY during the quarter.
  • Net profit for the quarter increased by 701.6% YoY. Net profit margins during the quarter increased from 11.4% in 2QFY19 to 75.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.1% QoQ during the same period.
  • The company's operating profit declined by 98.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.3% in 2QFY20 as against 624.0% in 1QFY19.
  • Net profit for the quarter declined by 80.8% QoQ, while net profit margins declined from 468.8% in 1QFY19 to 75.5% in 2QFY20.

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

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NIIT LTD Share Price Performance

Over the last one year,NIIT LTD share price has moved up from Rs 73.2 to Rs 97.7, registering a Gain of Rs 24.5 or around 33.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,314.9 (down 0.1%). Over the last one year it has moved up from 14,228.4 to 15,314.9, a gain of 1,087 points (up 7.6%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 97.7, the price to earnings (P/E) ratio of NIIT LTD stands at 1.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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