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NIIT TECHNOLOGIES Announces Quarterly Results (2QFY19); Net Profit Up 59.4%

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NIIT TECHNOLOGIES Announces Quarterly Results (2QFY19); Net Profit Up 59.4%
Fri, 19 Oct

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,3728,2499,07410.0%23.1%
Other incomeRs m822202262.7%175.6%
TurnoverRs m7,4548,4699,3009.8%24.8%
ExpensesRs m6,1516,9347,4337.2%20.8%
Gross profitRs m1,2211,3151,64124.8%34.4%
DepreciationRs m3413123192.2%-6.5%
InterestRs m262018-10.0%-30.8%
Profit before taxRs m9361,2031,53027.2%63.5%
TaxRs m20429936321.4%77.9%
Profit after taxRs m7329041,16729.1%59.4%
Gross profit margin%16.615.918.1
Effective tax rate%21.824.923.7
Net profit margin%9.810.712.5
* 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 23.1% on a year-on-year (YoY) basis. The expenses were up by 20.8% YoY during the same period.
  • The company's operating profit increased by 34.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.1% in 2QFY19 as against 16.6% in 2QFY18.
  • Depreciation charges and finance costs declined by 6.5% YoY and 30.8% YoY, respectively.
  • Other income increased by 175.6% YoY during the quarter.
  • Net profit for the quarter increased by 59.4% YoY. Net profit margins during the quarter increased from 9.8% in 2QFY18 to 12.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.2% QoQ during the same period.
  • The company's operating profit increased by 24.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.1% in 2QFY19 as against 15.9% in 1QFY18.
  • Net profit for the quarter increased by 29.1% QoQ, while net profit margins increased from 10.7% in 1QFY18 to 12.5% in 2QFY19.

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 612.5 to Rs 1,185.5, registering a Gain of Rs 573.0 or around 93.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,246.8 (down 2.9%). Over the last one year it has moved up from 10,360.4 to 14,246.8, a gain of 3,886 points (up 37.5%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 1,185.5, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 18.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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