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NIIT TECHNOLOGIES Announces Quarterly Results (4QFY19); Net Profit Up 18.7%

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NIIT TECHNOLOGIES Announces Quarterly Results (4QFY19); Net Profit Up 18.7%
Tue, 7 May

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

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,8889,7179,7220.1%23.3%
Other incomeRs m1481673356.3%-50.7%
TurnoverRs m8,0369,7339,7950.6%21.9%
ExpensesRs m6,4387,9038,0071.3%24.4%
Gross profitRs m1,4501,8141,715-5.5%18.3%
DepreciationRs m305314303-3.5%-0.7%
InterestRs m32203470.0%6.3%
Profit before taxRs m1,2611,4961,451-3.0%15.1%
TaxRs m288445296-33.5%2.8%
Profit after taxRs m9731,0511,1559.9%18.7%
Gross profit margin%18.418.717.6
Effective tax rate%22.829.720.4
Net profit margin%12.110.811.8
* 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 23.3% on a year-on-year (YoY) basis. The expenses were up by 24.4% YoY during the same period.
  • The company's operating profit increased by 18.3% YoY during the quarter. Consequently, operating profit margins remained same and stood at 17.6% in 4QFY19.
  • Depreciation charges declined by 0.7% and finance costs increased by 6.3% YoY, respectively.
  • Other income declined by 50.7% YoY during the quarter.
  • Net profit for the quarter increased by 18.7% YoY. Net profit margins during the quarter declined from 12.1% in 4QFY18 to 11.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.3% QoQ during the same period.
  • The company's operating profit declined by 5.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.6% in 4QFY19 as against 18.7% in 3QFY18.
  • Net profit for the quarter increased by 9.9% QoQ, while net profit margins increased from 10.8% in 3QFY18 to 11.8% in 4QFY19.

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 1,028.4 to Rs 1,262.0, registering a Gain of Rs 233.7 or around 22.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,724.5 (up 0.5%). Over the last one year it has moved up from 13,138.4 to 15,724.5, a gain of 2,586 points (up 19.7%).

Overall, the S&P BSE SENSEX is up 9.8% over the year.

Current Valuations

At the current price of Rs 1,262.0, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 18.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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