NIIT TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 7.2%

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NIIT TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 7.2%
Fri, 1 Nov

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m9,0749,62710,3857.9%14.4%
Other incomeRs m226206102-50.5%-54.9%
TurnoverRs m9,3009,83310,4876.7%12.8%
ExpensesRs m7,4338,2428,4692.8%13.9%
Gross profitRs m1,6411,4421,91632.9%16.8%
DepreciationRs m31940144711.5%40.1%
InterestRs m18314441.9%144.4%
Profit before taxRs m1,5301,2161,52725.6%-0.2%
TaxRs m363318276-13.2%-24.0%
Profit after taxRs m1,1678981,25139.3%7.2%
Gross profit margin%18.115.018.4
Effective tax rate%23.726.218.1
Net profit margin%12.59.111.9
* 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 14.4% on a year-on-year (YoY) basis. The expenses were up by 13.9% YoY during the same period.
  • The company's operating profit increased by 16.8% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.4% in 2QFY20.
  • Depreciation charges increased by 40.1% and finance costs increased by 144.4% YoY, respectively.
  • Other income declined by 54.9% YoY during the quarter.
  • Net profit for the quarter increased by 7.2% YoY. Net profit margins during the quarter declined from 12.5% in 2QFY19 to 11.9% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.8% QoQ during the same period.
  • The company's operating profit increased by 32.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 2QFY20 as against 15.0% in 1QFY19.
  • Net profit for the quarter increased by 39.3% QoQ, while net profit margins increased from 9.1% in 1QFY19 to 11.9% in 2QFY20.

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

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NIIT TECHNOLOGIES Share Price Performance

Over the last one year,NIIT TECHNOLOGIES share price has moved up from Rs 1,195.4 to Rs 1,530.4, registering a Gain of Rs 335.1 or around 28.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,325.5 (down 0.4%). Over the last one year it has moved up from 14,273.4 to 15,325.5, a gain of 1,052 points (up 7.4%).

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 1,530.4, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 21.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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