HEXAWARE TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 6.6%

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HEXAWARE TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 6.6%
Fri, 25 Oct

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

HEXAWARE TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m12,33113,08314,81313.2%20.1%
Other incomeRs m29356-82.2%-79.0%
TurnoverRs m12,36113,11814,82013.0%19.9%
ExpensesRs m10,07310,89112,23812.4%21.5%
Gross profitRs m2,2582,0232,57527.3%14.1%
DepreciationRs m15920532457.8%103.8%
InterestRs m01034242.1%48285.7%
Profit before taxRs m2,1281,8422,22320.7%4.5%
TaxRs m40632938717.6%-4.6%
Profit after taxRs m1,7231,5131,83621.4%6.6%
Gross profit margin%18.315.517.4
Effective tax rate%19.117.917.4
Net profit margin%13.911.512.4
* 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 20.1% on a year-on-year (YoY) basis. The expenses were up by 21.5% YoY during the same period.
  • The company's operating profit increased by 14.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 2QFY20 as against 18.3% in 2QFY19.
  • Depreciation charges increased by 103.8% and finance costs increased by 48285.7% YoY, respectively.
  • Other income declined by 79.0% YoY during the quarter.
  • Net profit for the quarter increased by 6.6% YoY. Net profit margins during the quarter declined from 13.9% in 2QFY19 to 12.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.4% QoQ during the same period.
  • The company's operating profit increased by 27.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.4% in 2QFY20 as against 15.5% in 1QFY19.
  • Net profit for the quarter increased by 21.4% QoQ, while net profit margins increased from 11.5% in 1QFY19 to 12.4% in 2QFY20.

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

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HEXAWARE TECHNOLOGIES Share Price Performance

Over the last one year,HEXAWARE TECHNOLOGIES share price has moved up from Rs 331.1 to Rs 337.5, registering a Gain of Rs 6.5 or around 1.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,526.4 (up 0.7%). Over the last one year it has moved up from 13,759.8 to 14,526.4, a gain of 767 points (up 5.6%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 337.5, the price to earnings (P/E) ratio of HEXAWARE TECHNOLOGIES stands at 17.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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