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SASKEN TECHNOLOGIES Announces Quarterly Results (2QFY19); Net Profit Down 10.0%

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SASKEN TECHNOLOGIES Announces Quarterly Results (2QFY19); Net Profit Down 10.0%
Fri, 9 Nov

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

SASKEN TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m1,2481,3431,131-15.8%-9.4%
Other incomeRs m8017685-51.8%6.8%
TurnoverRs m1,3281,5191,216-20.0%-8.4%
ExpensesRs m1,0611,136998-12.1%-6.0%
Gross profitRs m187207133-35.7%-28.9%
DepreciationRs m1616161.3%-0.8%
InterestRs m0000.0%0.0%
Profit before taxRs m251368202-45.0%-19.3%
TaxRs m638833-62.1%-47.2%
Profit after taxRs m188280169-39.7%-10.0%
Gross profit margin%15.015.411.8
Effective tax rate%25.123.916.5
Net profit margin%14.118.413.9
* 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 fell 9.4% on a year-on-year (YoY) basis. The expenses were down by 6.0% YoY during the same period.
  • The company's operating profit declined by 28.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.8% in 2QFY19 as against 15.0% in 2QFY18.
  • Depreciation charges declined by 0.8% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 6.8% YoY during the quarter.
  • Net profit for the quarter declined by 10.0% YoY. Net profit margins during the quarter declined from 14.1% in 2QFY18 to 13.9% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.1% QoQ during the same period.
  • The company's operating profit declined by 35.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.8% in 2QFY19 as against 15.4% in 1QFY18.
  • Net profit for the quarter declined by 39.7% QoQ, while net profit margins declined from 18.4% in 1QFY18 to 13.9% in 2QFY19.

To see how SASKEN TECHNOLOGIES has performed over the last eight quarters, please visit here.

SASKEN TECHNOLOGIES Share Price Performance

Over the last one year, SASKEN TECHNOLOGIES share price has moved up from Rs 529.6 to Rs 675.9, registering a Gain of Rs 146.3 or around 27.6%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,167.6 (down 1.4%). Over the last one year it has moved up from 10,756.5 to 14,167.6, a gain of 3,411 points (up 31.7%).

Overall, the S&P BSE SENSEX is up 5.4% over the year.

Current Valuations

At the current price of Rs 675.9, the price to earnings (P/E) ratio of SASKEN TECHNOLOGIES stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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