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HCL TECH. Announces Quarterly Results (1QFY19); Net Profit Up 10.0%

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HCL TECH. Announces Quarterly Results (1QFY19); Net Profit Up 10.0%
Mon, 30 Jul

HCL TECH. has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

HCL TECH. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m121,490131,780138,7805.3%14.2%
Other incomeRs m3,1303,0203,2507.6%3.8%
TurnoverRs m124,620134,800142,0305.4%14.0%
ExpensesRs m94,550101,560106,4104.8%12.5%
Gross profitRs m26,94030,22032,3707.1%20.2%
DepreciationRs m2,2704,2904,76011.0%109.7%
InterestRs m1801902005.3%11.1%
Profit before taxRs m27,62028,76030,6606.6%11.0%
TaxRs m5,5206,4606,350-1.7%15.0%
Profit after taxRs m22,10022,30024,3109.0%10.0%
Gross profit margin%22.222.923.3
Effective tax rate%20.022.520.7
Net profit margin%17.716.517.1
* 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 14.2% on a year-on-year (YoY) basis. The expenses were up by 12.5% YoY during the same period.
  • The company's operating profit increased by 20.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.3% in 1QFY19 as against 22.2% in 1QFY18.
  • Depreciation charges and finance costs increased by 109.7% YoY and 11.1% YoY, respectively.
  • Other income increased by 3.8% YoY during the quarter.
  • Net profit for the quarter increased by 10.0% YoY. Net profit margins during the quarter declined from 17.7% in 1QFY18 to 17.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.8% QoQ during the same period.
  • The company's operating profit increased by 7.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.3% in 1QFY19 as against 22.9% in 4QFY18.
  • Net profit for the quarter increased by 9.0% QoQ, while net profit margins increased from 16.5% in 4QFY18 to 17.1% in 1QFY19.

To see how HCL TECH. has performed over the last eight quarters, please visit here.

HCL TECH. Share Price Performance

Over the last one year, HCL TECH. share price has moved up from Rs 890.4 to Rs 946.9, registering a Gain of Rs 56.5 or around 6.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,414.3 (down 0.7%). Over the last one year it has moved up from 10,361.1 to 14,414.3, a gain of 4,053 points (up 39.1%).

Overall, the S&P BSE SENSEX is up 0.3% over the year.

Current Valuations

At the current price of Rs 946.9, the price to earnings (P/E) ratio of HCL TECH. stands at 15.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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