SASKEN TECHNOLOGIES Announces Quarterly Results (2QFY21); Net Profit Up 2.4%

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SASKEN TECHNOLOGIES Announces Quarterly Results (2QFY21); Net Profit Up 2.4%
Thu, 22 Oct

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

SASKEN TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m1,2571,1311,073-5.1%-14.7%
Other incomeRs m1448947-47.6%-67.6%
TurnoverRs m1,4011,2201,120-8.2%-20.1%
ExpensesRs m1,085806802-0.5%-26.1%
Gross profitRs m172325271-16.6%57.4%
DepreciationRs m282928-5.6%0.4%
InterestRs m211-9.2%-62.7%
Profit before taxRs m287384289-24.6%0.7%
TaxRs m6010156-44.1%-5.6%
Profit after taxRs m227283233-17.7%2.4%
Gross profit margin%13.728.725.3
Effective tax rate%20.826.319.5
Net profit margin%16.223.220.8
* 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 fell 14.7% on a year-on-year (YoY) basis. The expenses were down by 26.1% YoY during the same period.
  • The company's operating profit increased by 57.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 2QFY21 as against 13.7% in 2QFY20.
  • Depreciation charges increased by 0.4% and finance costs declined by 62.7% YoY, respectively.
  • Other income declined by 67.6% YoY during the quarter.
  • Net profit for the quarter increased by 2.4% YoY. Net profit margins during the quarter increased from 16.2% in 2QFY20 to 20.8% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.5% QoQ during the same period.
  • The company's operating profit declined by 16.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.3% in 2QFY21 as against 28.7% in 1QFY20.
  • Net profit for the quarter declined by 17.7% QoQ, while net profit margins declined from 23.2% in 1QFY20 to 20.8% in 2QFY21.

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

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SASKEN TECHNOLOGIES Share Price Performance

Over the last one year, SASKEN TECHNOLOGIES share price has moved up from Rs 583.3 to Rs 706.8, registering a Gain of Rs 123.6 or around 21.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,912.0 (down 0.1%). Over the last one year it has moved up from 14,370.3 to 21,912.0, a gain of 7,542 points (up 52.5%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 706.8, the price to earnings (P/E) ratio of SASKEN TECHNOLOGIES stands at 23.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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