AGC Networks Ltd reports Rs. 41.43 crore consolidated PAT in Q2 FY20-21

AGC Networks Limited has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.1224.96 crores during the period ended September 30, 2020 as compared to Rs.994.80 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.41.43 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.4.33 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.13.71 for the period ended September 30, 2020 as compared to Rs.1.43 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 1224.96 crs	₹ 994.80 crs	23.14%
Net Profit	₹ 41.43 crs	₹ 4.33 crs	856.81%
EPS	₹ 13.71	₹ 1.43	858.74%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.1224.96 crores during the period ended September 30, 2020 as compared to Rs.1285.57 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.41.43 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.35.50 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.13.71 for the period ended September 30, 2020 as compared to Rs.11.86 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 1224.96 crs	₹ 1285.57 crs	-4.71%
Net Profit	₹ 41.43 crs	₹ 35.50 crs	16.7%
EPS	₹ 13.71	₹ 11.86	15.6%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.2219.76 crores during the 6 months period ended September 30, 2020 as compared to Rs.2516.62 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.45.76 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.49.06 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.15.15 for the 6 months period ended September 30, 2020 as compared to Rs.16.39 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 2219.76 crs	₹ 2516.62 crs	-11.8%
Net Profit	₹ 45.76 crs	₹ 49.06 crs	-6.73%
EPS	₹ 15.15	₹16.39	-7.57%

Speaking on the announcement of the financial results, Sanjeev Verma, Whole-time Director, AGC Networks said "Our results reflect sharp focus on improving gross margins and profitability. We continue to sustain, transform and invest in areas of growth primarily in our managed services and cloud business. We have started seeing uptick in demand from our customers as businesses start to return to normalcy."

Deepak Kumar Bansal, Executive Director and CFO of AGC Networks, commented, "In what continues to be a dynamic environment, we delivered strong financial performance and remain committed to balancing operational discipline with continued investments to drive future growth."

Shares of AGC Networks Limited was last trading in BSE at Rs.630 as compared to the previous close of Rs. 601.65. The total number of shares traded during the day was 3428 in over 116 trades.

The stock hit an intraday high of Rs. 631 and intraday low of 571.6. The net turnover during the day was Rs. 2055023.

Source : Equity Bulls

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