OFSS Ltd Q4FY22 PAT up 4.66% at Rs481.74 crore yoy on the back of tax credits in the quarter

5 May 2022 , 12:36 AM

OFSS Ltd reported 5.44% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs1,276.78 crore. On a sequential basis, revenues were higher for the quarter by 0.83%.

For the full year FY22, the revenues were higher by 4.8% at Rs5,221 crore. The company reported sales growth in the product licenses and related verticals while the IT solutions and consulting vertical saw a fall in total revenues.

Net cash from operations remained stable, but there was a sharp rise in trade receivables noted in the year.

The consolidated net profit for Q4FY22 was up 4.66% at Rs481.74 crore while it was up on a sequential basis by 10.66%.

This was largely triggered by a deferred tax credit for the company in the latest quarter, which resulted in a small growth in net profits despite lower operating profits on a yoy basis.

Operating profits from product licenses were marginally lower while operating profits from IT solutions and consulting was sharply lower. However, this was more than made up by tax credits. Net margins stood at 37.73% in Q4FY22 quarter compared to 38.02% in Q4FY21. NPM was higher sequentially against 34.38% in Q3FY22.

Financial highlights for Mar-22 compared yoy and sequentially

	OFSS Ltd
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 1,276.78	₹ 1,210.86	5.44%	₹ 1,266.33	0.83%
Net Profit (Rs cr)	₹ 481.74	₹ 460.31	4.66%	₹ 435.34	10.66%
Diluted EPS (Rs)	₹ 55.62	₹ 53.28		₹ 50.24
Net Margins	37.73%	38.02%		34.38%