HEXAWARE TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 1.5%

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HEXAWARE TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 1.5%
Tue, 13 Aug

HEXAWARE TECHNOLOGIES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HEXAWARE TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m11,36712,55813,0834.2%15.1%
Other incomeRs m374135-15.0%-7.2%
TurnoverRs m11,40512,59813,1184.1%15.0%
ExpensesRs m9,30510,75410,8911.3%17.1%
Gross profitRs m2,0641,8042,02312.1%-2.0%
DepreciationRs m18214820538.6%13.0%
InterestRs m001014042.9%10900.0%
Profit before taxRs m1,9201,6971,8428.6%-4.1%
TaxRs m3843123295.4%-14.3%
Profit after taxRs m1,5361,3841,5139.3%-1.5%
Gross profit margin%18.214.415.5
Effective tax rate%20.018.417.9
Net profit margin%13.511.011.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 15.1% on a year-on-year (YoY) basis. The expenses were up by 17.1% YoY during the same period.
  • The company's operating profit declined by 2.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.5% in 1QFY20 as against 18.2% in 1QFY19.
  • Depreciation charges increased by 13.0% and finance costs increased by 10900.0% YoY, respectively.
  • Other income declined by 7.2% YoY during the quarter.
  • Net profit for the quarter declined by 1.5% YoY. Net profit margins during the quarter declined from 13.5% in 1QFY19 to 11.5% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.3% QoQ during the same period.
  • The company's operating profit increased by 12.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.5% in 1QFY20 as against 14.4% in 4QFY19.
  • Net profit for the quarter increased by 9.3% QoQ, while net profit margins increased from 11.0% in 4QFY19 to 11.5% in 1QFY20.

To see how HEXAWARE TECHNOLOGIES has performed over the last eight quarters,please visit here.

HEXAWARE TECHNOLOGIES Share Price Performance

Over the last one year,HEXAWARE TECHNOLOGIES share price has moved down from Rs 483.4 to Rs 371.3, registering a Loss of Rs 112.2 or around 23.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,705.5 (down 1.3%). Over the last one year it has moved up from 14,865.8 to 15,705.5, a gain of 840 points (up 5.6%).

Overall, the S&P BSE SENSEX is down 1.2% over the year.

Current Valuations

At the current price of Rs 371.3, the price to earnings (P/E) ratio of HEXAWARE TECHNOLOGIES stands at 19.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.7 times.

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