Q1 FY23 Earnings Review - A Tad Disappointing; Revenue Meets Our Estimates: Yes Securities

Q1 FY23 Earnings Review - A Tad Disappointing: Yes Securities

<div class="paragraphs"><p>Stock market trend,&nbsp;financial graph.on a computer screen,  (Source: freepik)</p></div>
Stock market trend, financial graph.on a computer screen, (Source: freepik)

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Yes Securities Report

For our universe, Q1 FY23 results have been a tad disappointing, wherein revenue meets our estimates (primary due to inflation) and grew by 36% YoY, while Ebitda contracted by 115 basis points YoY versus estimate of 38 basis points expansion.

A miss on Ebitda resulted into profit after tax falling short of our estimate (44% YoY growth versus expectation of 75%). Result overview for NSE 200  topline growth (excluding finance and oil marketing companies) for Q1 FY23 was 42% YoY, while Ebitda margin contracted by 400 bps amid escalating input costs.

Other income (ex-finance, OMC) remained flat YoY basis.

Depreciation rose by 9% YoY, while finance costs climbed by 5% amid benefits of debt reduction and lower interest regime.

Profit before tax rose 8.8% YoY the lowest in last seven quarters dragged by OMC. Excluding OMC profit before tax stood at 23%. Net interest income for banks grew by 14% YoY.

Click on the attachment to read the full report:

Yes Securities Q1 FY23 Earnings Review.pdf


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