Datamatics stock slips over 2% after Q1FY21 numbers

The Q1FY21 financials took a hit due to Covid-19 impact compared to Q1FY20.

Sep 11, 2020 05:09 IST India Infoline News Service

Quarterly Results
Datamatics Global Services Ltd. (DGSL) revenue stood at Rs277cr, a decline of 4.5% yoy and 10.7% mom in the financial results announced on Thursday for the first quarter ended June 30, 2020.

EBITDA registered was at Rs28.56cr; down 19.4% yoy and up 1.2% qoq. EBITDA margin was at 10.3%; down 190 bps yoy and up 122 bps qoq. The margin was mainly impacted due to Covid-19. PAT (after non-controlling interest) stood at Rs13.51cr; down 29.8% yoy and up 17.0% qoq. EPS (Diluted) at Rs2.29 for Q1FY21 as against Rs3.26 in Q1FY20 and Rs1.96 in Q4FY20.

“The pandemic has scaled back on certain projects and delayed decisions on newer ones. This has impacted the quarter revenues and margins. Simultaneously, we have taken steps to reduce operating costs, however its effect will be seen in subsequent quarters. We are seeing green shoots of business recovery and are confident that we will be back on the growth path,” Rahul Kanodia, Vice Chairman and CEO, said.

“For Q1FY21, USA continues to be major contributor at 54% whereas contributions from UK, Europe, India and Rest of World stood at 13%, 5%, 20% and 8% respectively. In terms of sectorial contribution to the revenue, BFSI, Technology & Consulting and Education & Publishing were the top three sectors contributing 29%, 22% and 19% respectively,” company said.

Datamatics Global Services Ltd is currently trading at Rs66.10, down by Rs1.6 or 2.36% from its previous closing of Rs67.70 on the BSE.

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