BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Data Patterns India Ltd.'s revenue from operations for the quarter increased 83.7% YoY to Rs 68.4 crore; better than our estimate of Rs 47.3 crore.
This was primarily on account of better-than-expected execution in development contracts. Revenue from development contracts witnessed strong growth YoY (contribution increased to 45% of revenue in Q1 FY23 versus negligible in Q1 FY22).
Data Patterns' gross margin contracted to 64.7% in Q1 FY23 against 90.2% in Q1 FY22 on account of change in contracts and revenue mix.
Ebitda margin contracted sharply by 1265 bps YoY to 31.3%; lower than our estimate of 40.9%. However, Ebitda was higher by 26.8% to Rs 21.3 crore (versus our estimate of Rs 19.4 crore) led by sharp increase in revenues on YoY basis.
Profit after tax increased 39.1% YoY to Rs 14.2 crore (versus our estimate of Rs 12.2 crore).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
