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CyberTech Q2FY18 Total Revenue at Rs 254 million, up by 12 % on Q-o-Q basis

Posted On: 2017-11-20 03:45:34

CyberTech Systems and Software Ltd. (BSE: CYBERTECH), a CMMi Level 3 Next Gen Spatial Analytics organization announced today its financial results for the second quarter and half year FY18 ended on 30th September, 2017.

Performance Highlights

Consolidated Q2 FY18 Q-o-Q Review

- Operating revenue was Rs 231.7 million during the quarter under review as compared to Rs 206.4 million during the previous quarter, reflecting an increase of 12% in rupee terms.

- Total revenue was Rs 253.8 million during the quarter under review as compared to Rs 226.4 million during the previous quarter, reflecting a growth of 12% on Q-o-Q.

- Company reported an EBITDA (including other income) of Rs 43.4 million for the quarter under review as compared to Rs 30.1 million during the previous quarter, up by 44% on Q-o-Q basis.

- EBITDA Margin stood at 17.1% for Q2FY18 compared to 13.3% in Q1FY18.

- Profit after tax stood at Rs 23.0 million during the quarter under review as compared to Rs 12.3 million during the previous quarter; up 87% on a Q-o-Q basis.

- Basic EPS increased by 89% at Rs 0.85 as compared to Rs 0.45 for Q1FY18.

Consolidated Q2FY18 Y-o-Y Review

- Q2FY18 Operating revenue was Rs 231.7 million as compared to Rs 212.7 million (inclusive of hardware revenue) in Q2FY17 reflecting a growth of 9% in rupee terms.

- Total revenue for the quarter was Rs 253.8 million as compared to the Rs 231.4 million of the comparable quarter of last year; grew by 10% on Y-o-Y basis.

- Company reported an EBITDA of Rs 43.4 million during the quarter under review as compared to Rs 51.6 million during the corresponding period of previous year, down by 16% on Y-o-Y basis. Last year's Q2 EBITDA included a one time investment income of Rs 20 million. Also, the company made significant investment for platform development and will continue to invest in the coming years.

- EBITDA Margin stood at 17.1% for Q2FY18 as compared to 22.3% in Q2FY17.

- Profit after tax stood at Rs 23.0 million during the quarter under review as compared to Rs 29.6 million during the corresponding period of previous year, down by 22% on Y-o-Y basis.

- Basic EPS stood at Rs 0.85 during the quarter under review as compared to Rs 1.10 in Q2FY17.

Consolidated H1FY18 Review

- Operating revenue was Rs 438.1 million for the half year ended 30th September,2017 in line with Rs 449.7 million in the corresponding period of previous year.

- Total revenue was Rs 480.2 million for the half year ended 30th September, 2017 in line with Rs 489.7 million in the corresponding period of previous year.

- Company reported an EBITDA of Rs 73.5 million for H1FY18 as compared to an EBITDA of Rs 106.7 million in the corresponding period of previous year, down by 31% Y-o-Y basis.

- EBITDA Margin stood at 15.3% for H1FY18 compared to 21.8% in H1FY17.

- Profit after tax stood at Rs 35.6 million for H1FY18 as against a profit of Rs 60.0 million in corresponding period of the previous year, down by 41% on Y-o-Y basis.

Business highlights – Q2FY18

- The Company added 2 new clients during the quarter under review. Total active client as of 30th September, 2017 was 51 (LTM).

- From Industry perspective, revenue from the Government sector continued to witness strong momentum which contributed 23% of operating revenue during the quarter under review as compared to 19% of operating revenue in Q1FY18.

- In terms of geography, US business continued to be the major contributor with a contribution of 89% towards operating revenue.

- As on 30th September, 2017, the company had 411 total employees.

Commenting on the results, Mr. Vish Tadimety, Founder and CEO, CyberTech, stated: "This quarter was an eventful quarter. Mr. Pankaj Srivastava, former VP and GM of Cisco's platform business, joined us as the SVP and CTO of Software Platforms. Pankaj is a highly-experienced technology leader and a known figure globally in the industry. We are delighted to have him lead our next generation spatial analytics and IoT platforms. This addition to the leadership of the company is in line with our strategy of investing in building top-level talent to transform our spatial analytics and applications platform.

Second quarter typically is a strong quarter for us. Our total revenue grew  by 12%, EBITDA up 44% and PAT up 87% on Q-o-Q basis. This growth was primarily backed by new Enterprise Solutions engagements awarded by our existing customers in US. This is a testimonial to our strong relationships with our clients. We continued to deliver a steady EBITDA and PAT margin during the quarter.

The company will continue to invest in the coming quarters to achieve our platform transformation goal, while having a steady growth focus on our enterprise solutions offerings. The management will also continue to work towards building a strong partner eco-system and sales model."

Shares of CYBERTECH SYSTEMS AND SOFTWARE LTD. was last trading in BSE at Rs.67 as compared to the previous close of Rs. 67.2. The total number of shares traded during the day was 10413 in over 157 trades.

The stock hit an intraday high of Rs. 68.75 and intraday low of 65.05. The net turnover during the day was Rs. 701122.


Source: Equity Bulls

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