Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), announced its unaudited financial results for the Quarter and Six months ended 30th September 2019.
Result Highlights Q2FY20 on Y-o-Y basis:
Revenue of Rs. 87.19 Crs
- The Company recorded Revenue of Rs. 87.19 Crs during Q2FY20, as against Rs. 89.15 Crs in Q2FY19. The muted performance was on the back of sluggish demand in UK market.
EBITDA growth of 16.3%
- EBITDA for the quarter stood at Rs. 16.16 Crs higher by 16.3% as compared to Q2FY19 of Rs. 13.90 Crs.
- EBIDTA margins expanded by 294 bps to 18.5% as compared to Q2FY19 (this includes 141 bps on account of Ind AS 116) and this was on the back of increase in offshore revenues and better quality of revenues due to the dedicated team model
Profitability growth of 1.9%*
- The Company recorded a PAT margin of 11.2% higher by 45 bps as compared to Q2FY19. PAT for the quarter stood at Rs. 9.76 Crs with a growth of 1.9% Y-o-Y.
Result Highlights HLFY20 on Y-o-Y basis :
Revenue Growth of 3.9%
- The Company recorded Revenue of Rs. 178.39 Crs during H1FY20, as against Rs. 171.70 Crs in H1FY19 a growth of 3.9%.
EBITDA growth of 27.1%
- EBITDA for the H1FY20 stood at Rs. 32.33 Crs as against Rs. 25.44 Crs in H1FY19 an increase of 27.1%. EBIDTA margins stood at 18.1% as compared to 14.8% for H1FY19 an increase of 331 bps.
- The EBITDA for H1FY20 is higher by Rs.2.48 Crs on account of adoption of Ind AS 116 resulting in an impact of 1.39%
Profitability growth of 11.3%*
- PAT for the H1FY20 stood at Rs. 19.27 Crs as against Rs. 17.32 Crs in H1FY19 an increase of 11.3%. PAT margin grew by 71 Bps as compared to H1FY19. PAT margins for the H1FY20 stood at 10.8%.
Commenting on the results and performance Aditya Krishna, Chairman & Managing Director of Saksoft Ltd. said: "The half year 2019-20 closed with an increased EBITDA of 32.33 crores, an increase of 27.1% over the previous half year. The sluggish demand in the UK market has affected the current quarter's revenue and we believe this is a shortterm phenomenon. Whilst there has been a short-term revenue growth challenge, our ability to stay focussed on increasing offshore revenues and delivering value to our customers has resulted in an overall increase in the profitability of the company."
Shares of SAKSOFT LTD. was last trading in BSE at Rs.235.65 as compared to the previous close of Rs. 242.5. The total number of shares traded during the day was 1834 in over 149 trades.
The stock hit an intraday high of Rs. 253.05 and intraday low of 235. The net turnover during the day was Rs. 447006.