Polaris Consulting & Services reported a good set of numbers for Q4FY18. Revenues grew by 6.1% qoq and 26.9% yoy to Rs721cr. EBITDA came in at Rs104cr, up 20.9% qoq and 130.1% on yoy basis. EBITDA margin expanded by 180bps qoq and by 650bps yoy to 14.4%. PAT increased by 24.2% qoq and by 107.1% yoy to Rs69cr.
On a constant currency basis, revenue increased by 6% qoq and 31.6% yoy.
Financial Services and Communications & Technology grew by 7.2% qoq and 6.1% qoq respectively.
Consulting revenues grew by 4% qoq, while Outsourcing was up 8.2% qoq.
Top 10 clients grew by 8.6% qoq, while top client grew by 2.8% qoq.
Share of Fixed bid contracts increased from 38.5% in Q3FY18 to 47.4%, while offshore mix improved by ~100bps qoq to 73%, adiding overall EBITDA margin expansion.
Utilization for the quarter was 87.7% compared to 82.1% in Q4FY17 and 85.8% in Q3FY18.
DSO stood at 75 days compared to 81 days in Q4FY17 and 73 days in Q3FY18.
Polaris Consulting & Services Ltd is currently trading at Rs. 474, up by 1.95 points or 0.41% from its previous closing of Rs. 472.05 on the BSE.
The scrip opened at Rs. 474.40 and has touched a high and low of Rs. 474.40 and Rs. 470.10 respectively. So far 13,636 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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