NIIT LTD Announces Quarterly Results (4QFY18); Net Profit Down 31.9%

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NIIT LTD Announces Quarterly Results (4QFY18); Net Profit Down 31.9%
Fri, 20 Jul

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

NIIT LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m9469059798.2%3.5%
Other incomeRs m10161127108.0%26.1%
TurnoverRs m1,0469661,10614.5%5.7%
ExpensesRs m890870853-1.9%-4.2%
Gross profitRs m88162344.6%-74.1%
DepreciationRs m576057-5.1%-0.2%
InterestRs m654846-4.4%-30.0%
Profit before taxRs m66-3247-29.1%
TaxRs m314500.0%38.5%
Profit after taxRs m63-3243-31.9%
Gross profit margin%9.31.72.3
Effective tax rate%4.0-1.97.7
Net profit margin%6.0-3.33.9
* 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 grew 3.5% on a year-on-year (YoY) basis. The expenses were down by 4.2% YoY during the same period.
  • The company's operating profit declined by 74.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2.3% in 4QFY18 as against 9.3% in 4QFY17.
  • Depreciation charges and finance costs declined by 0.2% YoY and 30.0% YoY, respectively.
  • Other income increased by 26.1% YoY during the quarter.
  • Net profit for the quarter declined by 31.9% YoY. Net profit margins during the quarter declined from 6.0% in 4QFY17 to 3.9% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.9% QoQ during the same period.
  • The company's operating profit increased by 44.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 2.3% in 4QFY18 as against 1.7% in 3QFY17.
  • Net profit for the quarter declined by 233.6% QoQ, while net profit margins increased from 3.3% in 3QFY17 to 3.9% in 4QFY18.

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 88.1 to Rs 91.0, registering a Gain of Rs 3.0 or around 3.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,606.1 (up 1.7%). Over the last one year it has moved up from 10,154.0 to 14,606.1, a gain of 4,452.1 points (up 43.8%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 91.0, the price to earnings (P/E) ratio of NIIT LTD stands at 291.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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