HEXAWARE TECHNOLOGIES Announces Quarterly Results (2QFY21); Net Profit Down 11.6%

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HEXAWARE TECHNOLOGIES Announces Quarterly Results (2QFY21); Net Profit Down 11.6%
Fri, 23 Oct

HEXAWARE TECHNOLOGIES has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

HEXAWARE TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m14,81315,62015,8581.5%7.1%
Other incomeRs m632359.5%464.8%
TurnoverRs m14,82015,65215,8931.5%7.2%
ExpensesRs m12,23812,97813,1831.6%7.7%
Gross profitRs m2,5752,6422,6761.3%3.9%
DepreciationRs m324637575-9.8%77.2%
InterestRs m34154133-13.8%291.8%
Profit before taxRs m2,2231,8832,0046.4%-9.9%
TaxRs m3873613815.7%-1.5%
Profit after taxRs m1,8361,5221,6236.6%-11.6%
Gross profit margin%17.416.916.9
Effective tax rate%17.419.119.0
Net profit margin%12.49.710.2
* 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 7.1% on a year-on-year (YoY) basis. The expenses were up by 7.7% YoY during the same period.
  • The company's operating profit increased by 3.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 16.9% in 2QFY21.
  • Depreciation charges increased by 77.2% and finance costs increased by 291.8% YoY, respectively.
  • Other income increased by 464.8% YoY during the quarter.
  • Net profit for the quarter declined by 11.6% YoY. Net profit margins during the quarter declined from 12.4% in 2QFY20 to 10.2% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.6% QoQ during the same period.
  • The company's operating profit increased by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.9% in 2QFY21 as against 16.9% in 1QFY20.
  • Net profit for the quarter increased by 6.6% QoQ, while net profit margins increased from 9.7% in 1QFY20 to 10.2% in 2QFY21.

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

Last 2 Days: Discover India's #1 Defence Stock

HEXAWARE TECHNOLOGIES Share Price Performance

Over the last one year, HEXAWARE TECHNOLOGIES share price has moved up from Rs 366.4 to Rs 470.2, registering a Gain of Rs 103.8 or around 28.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,757.7 (down 0.2%). Over the last one year it has moved up from 14,535.0 to 21,757.7, a gain of 7,223 points (up 49.7%).

Overall, the S&P BSE SENSEX is up 4.5% over the year.

Current Valuations

At the current price of Rs 470.2, the price to earnings (P/E) ratio of HEXAWARE TECHNOLOGIES stands at 21.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.9 times.

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