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NIIT LTD Announces Quarterly Results (1QFY19); Net Profit Down 52.2%

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NIIT LTD Announces Quarterly Results (1QFY19); Net Profit Down 52.2%
Fri, 27 Jul

NIIT LTD has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m833979783-20.0%-6.0%
Other incomeRs m8012791-27.8%14.2%
TurnoverRs m9131,106874-20.9%-4.2%
ExpensesRs m873853803-5.8%-8.0%
Gross profitRs m-4023-20-189.4%
DepreciationRs m5857605.1%3.2%
InterestRs m514643-6.1%-15.7%
Profit before taxRs m-6947-32-168.6%
TaxRs m141-63.6%162.0%
Profit after taxRs m-6943-33-177.4%
Gross profit margin%-4.82.3-2.6
Effective tax rate%-0.77.7-4.1
Net profit margin%-7.63.9-3.8
* 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 6.0% on a year-on-year (YoY) basis. The expenses were down by 8.0% YoY during the same period.
  • The company's operating profit declined by 49.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.6% in 1QFY19 as against 4.8% in 1QFY18.
  • Depreciation charges and finance costs increased by 3.2% YoY and 15.7% YoY, respectively.
  • Other income increased by 14.2% YoY during the quarter.
  • Net profit for the quarter declined by 52.2% YoY. Net profit margins during the quarter increased from -7.6% in 1QFY18 to -3.8% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 20.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.8% QoQ during the same period.
  • The company's operating profit declined by 189.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.6% in 1QFY19 as against 2.3% in 4QFY18.
  • Net profit for the quarter declined by 177.4% QoQ, while net profit margins declined from 3.9% in 4QFY18 to -3.8% in 1QFY19.

To see how NIIT LTD has performed over the last eight quarters, please visit here.

NIIT LTD Share Price Performance

Over the last one year, NIIT LTD share price has moved up from Rs 89.2 to Rs 94.7, registering a Gain of Rs 5.5 or around 6.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,524.2 (up 0.0%). Over the last one year it has moved up from 10,253.0 to 14,524.2, a gain of 4,271 points (up 41.7%).

Overall, the S&P BSE SENSEX is up 0.8% over the year.

Current Valuations

At the current price of Rs 94.7, the price to earnings (P/E) ratio of NIIT LTD stands at 178.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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