NIIT TECHNOLOGIES Announces Quarterly Results (4QFY20); Net Profit Up 7.5%

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NIIT TECHNOLOGIES Announces Quarterly Results (4QFY20); Net Profit Up 7.5%
Thu, 7 May

NIIT TECHNOLOGIES has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

NIIT TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m9,72210,73411,0933.3%14.1%
Other incomeRs m7314822149.3%202.7%
TurnoverRs m9,79510,88211,3144.0%15.5%
ExpensesRs m8,0078,7869,1093.7%13.8%
Gross profitRs m1,7151,9481,856-4.7%8.2%
DepreciationRs m303449433-3.6%42.9%
InterestRs m342654107.7%58.8%
Profit before taxRs m1,4511,6211,590-1.9%9.6%
TaxRs m2963363483.6%17.6%
Profit after taxRs m1,1551,2851,242-3.3%7.5%
Gross profit margin%17.618.116.7
Effective tax rate%20.420.721.9
Net profit margin%11.811.811.0
* 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 14.1% on a year-on-year (YoY) basis. The expenses were up by 13.8% YoY during the same period.
  • The company's operating profit increased by 8.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.7% in 4QFY20 as against 17.6% in 4QFY19.
  • Depreciation charges increased by 42.9% and finance costs increased by 58.8% YoY, respectively.
  • Other income increased by 202.7% YoY during the quarter.
  • Net profit for the quarter increased by 7.5% YoY. Net profit margins during the quarter declined from 11.8% in 4QFY19 to 11.0% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit declined by 4.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.7% in 4QFY20 as against 18.1% in 3QFY19.
  • Net profit for the quarter declined by 3.3% QoQ, while net profit margins declined from 11.8% in 3QFY19 to 11.0% in 4QFY20.

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 1,255.8 to Rs 1,383.4, registering a Gain of Rs 127.6 or around 10.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,570.2 (up 0.8%). Over the last one year it has moved down from 15,682.4 to 13,570.2, a loss of 2,112 points (down 13.5%).

Overall, the S&P BSE SENSEX is down 18.0% over the year.

Current Valuations

At the current price of Rs 1,383.4, the price to earnings (P/E) ratio of NIIT TECHNOLOGIES stands at 18.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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