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PERSISTENT SYSTEMS Announces Quarterly Results (2QFY19); Net Profit Up 6.7%

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PERSISTENT SYSTEMS Announces Quarterly Results (2QFY19); Net Profit Up 6.7%
Tue, 23 Oct

PERSISTENT SYSTEMS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m7,6138,3438,3560.2%9.8%
Other incomeRs m33618723224.3%-31.0%
TurnoverRs m7,9498,5308,5880.7%8.0%
ExpensesRs m6,4556,9426,919-0.3%7.2%
Gross profitRs m1,1581,4011,4362.5%24.0%
DepreciationRs m379401399-0.6%5.0%
InterestRs m001282.1%568.8%
Profit before taxRs m1,1151,1861,2697.0%13.8%
TaxRs m28831338723.9%34.4%
Profit after taxRs m8268738810.9%6.7%
Gross profit margin%15.216.817.2
Effective tax rate%25.926.430.5
Net profit margin%10.410.210.3
* 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 9.8% on a year-on-year (YoY) basis. The expenses were up by 7.2% YoY during the same period.
  • The company's operating profit increased by 24.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.2% in 2QFY19 as against 15.2% in 2QFY18.
  • Depreciation charges and finance costs increased by 5.0% YoY and 568.8% YoY, respectively.
  • Other income declined by 31.0% YoY during the quarter.
  • Net profit for the quarter increased by 6.7% YoY. Net profit margins during the quarter declined from 10.4% in 2QFY18 to 10.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.3% QoQ during the same period.
  • The company's operating profit increased by 2.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.2% in 2QFY19 as against 16.8% in 1QFY18.
  • Net profit for the quarter increased by 0.9% QoQ, while net profit margins increased from 10.2% in 1QFY18 to 10.3% in 2QFY19.

To see how PERSISTENT SYSTEMS has performed over the last eight quarters, please visit here.

PERSISTENT SYSTEMS Share Price Performance

Over the last one year, PERSISTENT SYSTEMS share price has moved up from Rs 666.7 to Rs 551.9, registering a Loss of Rs 114.8 or around 17.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,964.9 (down 1.6%). Over the last one year it has moved up from 10,453.6 to 13,964.9, a gain of 3,511 points (up 33.6%).

Overall, the S&P BSE SENSEX is up 4.6% over the year.

Current Valuations

At the current price of Rs 551.9, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 13.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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For the quarter ended December 2018, PERSISTENT SYSTEMS has posted a net profit of Rs 917 m (up 0.1% YoY). Sales on the other hand came in at Rs 9 bn (up 9.1% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

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For the quarter ended June 2018, PERSISTENT SYSTEMS has posted a net profit of Rs 873 m (up 16.3% YoY). Sales on the other hand came in at Rs 8 bn (up 14.6% YoY). Read on for a complete analysis of PERSISTENT SYSTEMS's quarterly results.

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