PERSISTENT SYSTEMS Announces Quarterly Results (4QFY20); Net Profit Down 0.8%

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PERSISTENT SYSTEMS Announces Quarterly Results (4QFY20); Net Profit Down 0.8%
Thu, 7 May

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

PERSISTENT SYSTEMS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m8,3199,2279,2640.4%11.4%
Other incomeRs m284348293-15.7%3.3%
TurnoverRs m8,6039,5759,557-0.2%11.1%
ExpensesRs m7,1127,9927,9940.0%12.4%
Gross profitRs m1,2071,2351,2692.8%5.1%
DepreciationRs m377428420-1.9%11.5%
InterestRs m11512-20.9%1034.0%
Profit before taxRs m1,1131,1401,130-0.8%1.6%
TaxRs m26826029212.2%8.9%
Profit after taxRs m845879838-4.7%-0.8%
Gross profit margin%14.513.413.7
Effective tax rate%24.122.925.9
Net profit margin%9.89.28.8
* 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 11.4% on a year-on-year (YoY) basis. The expenses were up by 12.4% YoY during the same period.
  • The company's operating profit increased by 5.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.7% in 4QFY20 as against 14.5% in 4QFY19.
  • Depreciation charges increased by 11.5% and finance costs increased by 1034.0% YoY, respectively.
  • Other income increased by 3.3% YoY during the quarter.
  • Net profit for the quarter declined by 0.8% YoY. Net profit margins during the quarter declined from 9.8% in 4QFY19 to 8.8% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.0% QoQ during the same period.
  • The company's operating profit increased by 2.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.7% in 4QFY20 as against 13.4% in 3QFY19.
  • Net profit for the quarter declined by 4.7% QoQ, while net profit margins declined from 9.2% in 3QFY19 to 8.8% in 4QFY20.

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

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PERSISTENT SYSTEMS Share Price Performance

Over the last one year,PERSISTENT SYSTEMS share price has moved down from Rs 621.6 to Rs 519.8, registering a Loss of Rs 101.9 or around 16.4%.

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 519.8, the price to earnings (P/E) ratio of PERSISTENT SYSTEMS stands at 12.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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