NIIT TECHNOLOGIES Announces Quarterly Results (3QFY20); Net Profit Up 22.3%

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NIIT TECHNOLOGIES Announces Quarterly Results (3QFY20); Net Profit Up 22.3%
Thu, 30 Jan

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m9,71710,38510,7343.4%10.5%
Other incomeRs m1610214845.1%825.0%
TurnoverRs m9,73310,48710,8823.8%11.8%
ExpensesRs m7,9038,4698,7863.7%11.2%
Gross profitRs m1,8141,9161,9481.7%7.4%
DepreciationRs m3144474490.4%43.0%
InterestRs m204426-40.9%30.0%
Profit before taxRs m1,4961,5271,6216.2%8.4%
TaxRs m44527633621.7%-24.5%
Profit after taxRs m1,0511,2511,2852.7%22.3%
Gross profit margin%18.718.418.1
Effective tax rate%29.718.120.7
Net profit margin%10.811.911.8
* 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 10.5% on a year-on-year (YoY) basis. The expenses were up by 11.2% YoY during the same period.
  • The company's operating profit increased by 7.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.1% in 3QFY20 as against 18.7% in 3QFY19.
  • Depreciation charges increased by 43.0% and finance costs increased by 30.0% YoY, respectively.
  • Other income increased by 825.0% YoY during the quarter.
  • Net profit for the quarter increased by 22.3% YoY. Net profit margins during the quarter increased from 10.8% in 3QFY19 to 11.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit increased by 1.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.1% in 3QFY20 as against 18.4% in 2QFY19.
  • Net profit for the quarter increased by 2.7% QoQ, while net profit margins declined from 11.9% in 2QFY19 to 11.8% in 3QFY20.

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 1,284.7 to Rs 1,897.4, registering a Gain of Rs 612.8 or around 47.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 16,102.3 (down 0.8%). Over the last one year it has moved up from 14,945.9 to 16,102.3, a gain of 1,156 points (up 7.7%).

Overall, the S&P BSE SENSEX is up 15.2% over the year.

Current Valuations

At the current price of Rs 1,897.4, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 25.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.6 times.

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