HEXAWARE TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Up 2.0%

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HEXAWARE TECHNOLOGIES Announces Quarterly Results (3QFY19); Net Profit Up 2.0%
Thu, 31 Jan

HEXAWARE TECHNOLOGIES has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

HEXAWARE TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m10,04812,33112,276-0.4%22.2%
Other incomeRs m13129302.0%-77.2%
TurnoverRs m10,18012,36112,306-0.4%20.9%
ExpensesRs m8,45010,07310,6085.3%25.5%
Gross profitRs m1,5982,2581,669-26.1%4.4%
DepreciationRs m159159158-0.6%-0.3%
InterestRs m000242.9%9.1%
Profit before taxRs m1,5712,1281,540-27.6%-2.0%
TaxRs m361406306-24.6%-15.3%
Profit after taxRs m1,2101,7231,234-28.3%2.0%
Gross profit margin%15.918.313.6
Effective tax rate%23.019.119.9
Net profit margin%11.913.910.0
* 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 22.2% on a year-on-year (YoY) basis. The expenses were up by 25.5% YoY during the same period.
  • The company's operating profit increased by 4.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.6% in 3QFY19 as against 15.9% in 3QFY18.
  • Depreciation charges declined by 0.3% and finance costs increased by 9.1% YoY, respectively.
  • Other income declined by 77.2% YoY during the quarter.
  • Net profit for the quarter increased by 2.0% YoY. Net profit margins during the quarter declined from 11.9% in 3QFY18 to 10.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.3% QoQ during the same period.
  • The company's operating profit declined by 26.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.6% in 3QFY19 as against 18.3% in 2QFY18.
  • Net profit for the quarter declined by 28.3% QoQ, while net profit margins declined from 13.9% in 2QFY18 to 10.0% in 3QFY19.

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 up from Rs 381.1 to Rs 343.4, registering a Loss of Rs 37.7 or around 9.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,251.9 (up 2.0%). Over the last one year it has moved up from 12,557.0 to 15,251.9, a gain of 2,695 points (up 21.5%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 343.4, the price to earnings (P/E) ratio of HEXAWARE TECHNOLOGIES stands at 17.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.0 times.

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