HCL TECH. Announces Quarterly Results (2QFY19); Net Profit Up 15.5%

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HCL TECH. Announces Quarterly Results (2QFY19); Net Profit Up 15.5%
Fri, 9 Nov

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

HCL TECH. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m124,330138,780148,6007.1%19.5%
Other incomeRs m3,3203,2502,840-12.6%-14.5%
TurnoverRs m127,650142,030151,4406.6%18.6%
ExpensesRs m96,920106,410113,9707.1%17.6%
Gross profitRs m27,41032,37034,6307.0%26.3%
DepreciationRs m2,9604,7605,1107.4%72.6%
InterestRs m11020030050.0%172.7%
Profit before taxRs m27,66030,66032,0604.6%15.9%
TaxRs m5,7206,3506,7205.8%17.5%
Profit after taxRs m21,94024,31025,3404.2%15.5%
Gross profit margin%22.023.323.3
Effective tax rate%20.720.721.0
Net profit margin%17.217.116.7
* 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 19.5% on a year-on-year (YoY) basis. The expenses were up by 17.6% YoY during the same period.
  • The company's operating profit increased by 26.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.3% in 2QFY19 as against 22.0% in 2QFY18.
  • Depreciation charges increased by 72.6% and finance costs increased by 172.7% YoY, respectively.
  • Other income declined by 14.5% YoY during the quarter.
  • Net profit for the quarter increased by 15.5% YoY. Net profit margins during the quarter declined from 17.2% in 2QFY18 to 16.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.1% QoQ during the same period.
  • The company's operating profit declined by 7.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.3% in 2QFY19 as against 23.3% in 1QFY18.
  • Net profit for the quarter increased by 4.2% QoQ, while net profit margins declined from 17.1% in 1QFY18 to 16.7% in 2QFY19.

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 877.4 to Rs 1,020.5, registering a Gain of Rs 143.1 or around 16.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,157.9 (down 1.5%). Over the last one year it has moved up from 10,756.5 to 14,157.9, a gain of 3,401 points (up 31.6%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 1,020.5, the price to earnings (P/E) ratio of HCL TECH. stands at 15.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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