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Stock Report
Onward Technologies Ltd reports consolidated loss of Rs. 2.98 crore in Q4
Posted On : 2020-05-15 18:50:15( TIMEZONE : IST )
ONWARD TECHNOLOGIES LTD. has reported financial results for the period ended March 31, 2020.
Financial Results (Q4 FY19-20) - QoQ Comparison
The company has reported total income of Rs.65.81 crores during the period ended March 31, 2020 as compared to Rs.69.95 crores during the period ended December 31, 2019.
The company has posted net profit / (loss) of Rs.(2.98) crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.2.85 crores for the period ended December 31, 2019.
The company has reported EPS of Rs.(1.78) for the period ended March 31, 2020 as compared to Rs.1.72 for the period ended December 31, 2019.
| Financials | Q4 FY19-20 | Q3 FY19-20 | % Change |
| Total Income | ₹ 65.81 crs | ₹ 69.95 crs |  -5.92% |
| Net Profit | ₹ (2.98) crs | ₹ 2.85 crs | -204.56% |
| EPS | ₹ (1.78) | ₹ 1.72 | -203.49% |
Financial Results (Q4 FY19-20) - YoY Comparison
The company has reported total income of Rs.65.81 crores during the period ended March 31, 2020 as compared to Rs.66.54 crores during the period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.(2.98) crores for the period ended March 31, 2020 as against net profit / (loss) of Rs.3.20 crores for the period ended March 31, 2019.
The company has reported EPS of Rs.(1.78) for the period ended March 31, 2020 as compared to Rs.1.96 for the period ended March 31, 2019.
| Financials | Q4 FY19-20 | Q4 FY18-19 | % Change |
| Total Income | ₹ 65.81 crs | ₹ 66.54 crs | -1.1% |
| Net Profit | ₹ (2.98) crs | ₹ 3.20 crs | -193.12% |
| EPS | ₹ (1.78) | ₹ 1.96 | -190.82% |
Financial Results (12 months ended FY 19-20) - YoY Comparison
The company has reported total income of Rs.272.60 crores during the 12 months period ended March 31, 2020 as compared to Rs.262.20 crores during the 12 months period ended March 31, 2019.
The company has posted net profit / (loss) of Rs.6.23 crores for the 12 months period ended March 31, 2020 as against net profit / (loss) of Rs.10.13 crores for the 12 months period ended March 31, 2019.
The company has reported EPS of Rs.3.76 for the 12 months period ended March 31, 2020 as compared to Rs.6.17 for the 12 months period ended March 31, 2019.
| Financials | Year Ended FY19-20 | Year Ended FY18-19 | % Change |
| Total Income | ₹ 272.60 crs | ₹ 262.20 crs |  3.97% |
| Net Profit | ₹ 6.23 crs | ₹ 10.13 crs | -38.5% |
| EPS | ₹ 3.76 | ₹6.17 | -39.06% |
Commenting on the company performance, Managing Director, Mr. Jigar Mehta said, "I'm pleased to share the FY 19-20 annual performance of the company where we achieved out top primary goal of Net Debt Zero at a consolidated level. This was possible with the phenomenal effort of our entire team globally with high level focus on customer service & providing superior quality deliverables on timeevery time.
We achieved the Zero Net Debt goal in early Q3 and since then had increased our investment in hiring large number of talented people to deliver growth in 2020 with our existing clients in North America & Europe. Covid-19 took us by complete surprise & we were not prepared for the total client shutdown in March and early Q1 of FY 20-21. Our teams took lot of bold BCP initiatives and have majority of the client projects up and running. This had a major impact on our Q4 performance along with the preplanned closure of loss-making initiatives. The impact is one time.
We have taken corrective steps of bringing down the operations and infrastructure costs & continue to collaborate with all our customers to support them in these critical times. Work from home (WFH) as engagement model is becoming new normal and our customers are accepting the change. We have successfully put entire ODCs under this model and are delivering with same effectiveness. This needed special focus on trainings, team and work management, data security aspects in terms of protecting customer IP, and necessary compliance agreements."
Shares of ONWARD TECHNOLOGIES LTD. was last trading in BSE at Rs.40 as compared to the previous close of Rs. 41.8. The total number of shares traded during the day was 4649 in over 44 trades.
The stock hit an intraday high of Rs. 42.7 and intraday low of 40. The net turnover during the day was Rs. 191599.
