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Saksoft says Q2 margins to be better than Q1

IT company Saksoft on Thursday expects second quarter margins to be better than first quarter. 

IT company Saksoft on Thursday expects second quarter margins to be better than first quarter.
In an interview to CNBC-TV18, Niraj Ganeriwal, chief financial officer, said that he is confident of the outlook for FY19 and would be able to sustain the first quarter performance going forward.
“Today we are almost at 50-50 percent onsite and offshore revenues and margins for offshore are better. Going forward, expect the offshore revenues to be around 55-60 percent of total revenues, which would aid margin improvement by around 100-150 basis points,” said Ganeriwal.
In terms of balance sheet, Saksoft has Rs 30 crore cash on books and a debt of Rs 45 crore.
“So the net debt is very low and company is adequately leveraged to go in for further acquisitions if required,” said Ganeriwal.
Would be interested in acquisitions that are of a strategic fit, Ganeriwal added.
Saksoft posted a strong set of Q1 earnings, revenue, EBITDA and margins came in strong. The year-on-year (YoY) revenues were up at Rs 82.5 crore against Rs 65.3 crore and versus Rs 78 crore quarter on quarter.
The YoY EBITDA was up at Rs 11.53 crore against Rs 7.85 crore and Rs 11.34 crore QoQ. The EBITDA margins too were up at 14 percent against 12 percent YoY, but slightly down versus 14.5 percent QoQ.