Infibeam Incorporation Ltd's Q4FY18 consolidated net profit declines 11.44% qoq to Rs22.13cr : Misses Estimates

The company’s consolidated revenue stood at Rs239.52 cr, up 12.2% qoq and 98.2% yoy.

May 30, 2018 01:05 IST India Infoline Research Team

Infibeam Incorporation Ltd Q4FY18

Consolidated Results Q4FY18: (Rs in cr)

Q4FY18 QoQ (%)
Revenue 239.52 12.2
EBITDA 39.05 [17.4]
EBITDA Margin (%) 16.3 [584]
Net Profit (adjusted) 22.13 [11.4]
***EBITDA margin change is bps
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Buy

Reco. Price

164.1

Last updated on

25-May-2018

Infibeam Incorporation Ltd's revenue for Q4FY18 came in at Rs239.52cr, up by 98.2% yoy and  12.2% qoq. EBITDA for the quarter came in Rs39.05cr, up by 94.4% yoy but down 17.4% qoq. The EBITDA margin decline by ~32bps yoy and ~583bps qoq to 16.3%. The adjusted net profit attributable to owners for Q4FY18 stood at Rs22.13cr, up 63.6% yoy but down 11.4% qoq. The revenue was in-line with street estimates. However, the operating profit and net profit missed the consensus estimates by ~13% and ~30% respectively.

• Product segment’s contribution declined to 31% in Q4FY18 as against 55% in Q4FY17. The segment reported an EBIT profit of Rs1.15cr in Q4FY18 as against EBIT loss of Rs4.24cr in Q4FY17.
• Web Services segment's margin declined by 2,033bps yoy to 27% in Q4FY18. Segment contribution improved to 69% from 45% in same quarter of previous year.
• Depreciation expense increased by 192% yoy to Rs19.1cr, while other income increased from Rs0.34cr in Q4FY17 to Rs1.04cr in current quarter.
• Board of directors have recommended a final dividend of 10% amounting to Rs0.1 per share.
• Board of directors approved acquiring entire share capital of Unicommerce eSolutions Pvt Ltd from its existing shareholder, Jasper Infotech Private limited (Snapdeal) for an aggregate consideration not exceeding Rs120cr. Management is in the process of completing due diligence and other acquisition related procedures.

Technical View:

Infibeam Incorporation Ltd ended at Rs. 169.65, up by 1.9 points or 1.13% from its previous closing of Rs. 167.75 on the BSE.
The scrip opened at Rs. 168.75 and touched a high and low of Rs. 171.95 and Rs. 168.75 respectively. A total of 56,46,186 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.


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