NIIT TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 0.7%

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NIIT TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 0.7%
Thu, 25 Jul

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m8,2499,7229,627-1.0%16.7%
Other incomeRs m22073206182.2%-6.4%
TurnoverRs m8,4699,7959,8330.4%16.1%
ExpensesRs m6,9348,0078,2422.9%18.9%
Gross profitRs m1,3151,7151,442-15.9%9.7%
DepreciationRs m31230340132.3%28.5%
InterestRs m203431-8.8%55.0%
Profit before taxRs m1,2031,4511,216-16.2%1.1%
TaxRs m2992963187.4%6.4%
Profit after taxRs m9041,155898-22.3%-0.7%
Gross profit margin%15.917.615.0
Effective tax rate%24.920.426.2
Net profit margin%10.711.89.1
* 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 16.7% on a year-on-year (YoY) basis. The expenses were up by 18.9% YoY during the same period.
  • The company's operating profit increased by 9.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 1QFY20 as against 15.9% in 1QFY19.
  • Depreciation charges increased by 28.5% and finance costs increased by 55.0% YoY, respectively.
  • Other income declined by 6.4% YoY during the quarter.
  • Net profit for the quarter declined by 0.7% YoY. Net profit margins during the quarter declined from 10.7% in 1QFY19 to 9.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.9% QoQ during the same period.
  • The company's operating profit declined by 15.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 1QFY20 as against 17.6% in 4QFY19.
  • Net profit for the quarter declined by 22.3% QoQ, while net profit margins declined from 11.8% in 4QFY19 to 9.1% in 1QFY20.

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

NIIT TECHNOLOGIES Share Price Performance

Over the last one year,NIIT TECHNOLOGIES share price has moved up from Rs 1,224.1 to Rs 1,297.3, registering a Gain of Rs 73.3 or around 6.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,526.3 (up 0.4%). Over the last one year it has moved up from 14,618.7 to 15,526.3, a gain of 908 points (up 6.2%).

Overall, the S&P BSE SENSEX is up 3.4% over the year.

Current Valuations

At the current price of Rs 1,297.3, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 18.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.5 times.

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