NIIT TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Up 27.2%

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NIIT TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Up 27.2%
Mon, 21 Jan

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m7,5659,0749,7177.1%28.4%
Other incomeRs m6822616-92.9%-76.5%
TurnoverRs m7,6339,3009,7334.7%27.5%
ExpensesRs m6,3127,4337,9036.3%25.2%
Gross profitRs m1,2531,6411,81410.5%44.8%
DepreciationRs m20319314-1.6%1470.0%
InterestRs m312182011.1%-93.6%
Profit before taxRs m9891,5301,496-2.2%51.3%
TaxRs m16336344522.6%173.0%
Profit after taxRs m8261,1671,051-9.9%27.2%
Gross profit margin%16.618.118.7
Effective tax rate%16.523.729.7
Net profit margin%10.812.510.8
* 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 28.4% on a year-on-year (YoY) basis. The expenses were up by 25.2% YoY during the same period.
  • The company's operating profit increased by 44.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.7% in 3QFY19 as against 16.6% in 3QFY18.
  • Depreciation charges increased by 1470.0% and finance costs declined by 93.6% YoY, respectively.
  • Other income declined by 76.5% YoY during the quarter.
  • Net profit for the quarter increased by 27.2% YoY. Net profit margins during the quarter declined from 10.8% in 3QFY18 to 10.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.3% QoQ during the same period.
  • The company's operating profit increased by 10.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.7% in 3QFY19 as against 18.1% in 2QFY18.
  • Net profit for the quarter declined by 9.9% QoQ, while net profit margins declined from 12.5% in 2QFY18 to 10.8% in 3QFY19.

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 728.0 to Rs 1,241.5, registering a Gain of Rs 513.5 or around 70.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,787.5 (up 0.8%). Over the last one year it has moved up from 12,243.7 to 14,787.5, a gain of 2,544 points (up 20.8%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 1,241.5, 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 4.6 times.

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