NIIT LTD Announces Quarterly Results (3QFY19); Net Profit Down 11.3%

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NIIT LTD Announces Quarterly Results (3QFY19); Net Profit Down 11.3%
Thu, 24 Jan

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

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m9052,2852,278-0.3%151.7%
Other incomeRs m6191784.4%-72.6%
TurnoverRs m9662,2942,2940.0%137.6%
ExpensesRs m8702,0822,1392.8%146.0%
Gross profitRs m16476152-68.1%865.9%
DepreciationRs m60849513.1%58.0%
InterestRs m485650-10.1%5.4%
Profit before taxRs m-3234423-93.4%
TaxRs m18359-29.6%9650.0%
Profit after taxRs m-32261-36-113.7%
Gross profit margin%1.720.86.7
Effective tax rate%-1.924.1256.9
Net profit margin%-3.311.4-1.6
* 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 151.7% on a year-on-year (YoY) basis. The expenses were up by 146.0% YoY during the same period.
  • The company's operating profit increased by 865.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 6.7% in 3QFY19 as against 1.7% in 3QFY18.
  • Depreciation charges increased by 58.0% and finance costs increased by 5.4% YoY, respectively.
  • Other income declined by 72.6% YoY during the quarter.
  • Net profit for the quarter declined by 11.3% YoY. Net profit margins during the quarter increased from -3.3% in 3QFY18 to -1.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit declined by 68.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.7% in 3QFY19 as against 20.8% in 2QFY18.
  • Net profit for the quarter declined by 113.7% QoQ, while net profit margins declined from 11.4% in 2QFY18 to -1.6% in 3QFY19.

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 108.7 to Rs 86.3, registering a Loss of Rs 22.4 or around 20.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,755.2 (up 0.8%). Over the last one year it has moved up from 12,833.9 to 14,755.2, a gain of 1,921 points (up 15.0%).

Overall, the S&P BSE SENSEX is up 0.2% over the year.

Current Valuations

At the current price of Rs 86.3, the price to earnings (P/E) ratio of NIIT LTD stands at 60.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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