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HCL TECH. Announces Quarterly Results (3QFY19); Net Profit Up 25.5%

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HCL TECH. Announces Quarterly Results (3QFY19); Net Profit Up 25.5%
Wed, 30 Jan

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

HCL TECH. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m128,090148,600156,9905.6%22.6%
Other incomeRs m2,7002,8401,340-52.8%-50.4%
TurnoverRs m130,790151,440158,3304.5%21.1%
ExpensesRs m100,200113,970120,6705.9%20.4%
Gross profitRs m27,89034,63036,3204.9%30.2%
DepreciationRs m4,3105,1105,4105.9%25.5%
InterestRs m21030055083.3%161.9%
Profit before taxRs m26,07032,06031,700-1.1%21.6%
TaxRs m5,3206,7205,650-15.9%6.2%
Profit after taxRs m20,75025,34026,0502.8%25.5%
Gross profit margin%21.823.323.1
Effective tax rate%20.421.017.8
Net profit margin%15.916.716.5
* 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 22.6% on a year-on-year (YoY) basis. The expenses were up by 20.4% YoY during the same period.
  • The company's operating profit increased by 30.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.1% in 3QFY19 as against 21.8% in 3QFY18.
  • Depreciation charges increased by 25.5% and finance costs increased by 161.9% YoY, respectively.
  • Other income declined by 50.4% YoY during the quarter.
  • Net profit for the quarter increased by 25.5% YoY. Net profit margins during the quarter increased from 15.9% in 3QFY18 to 16.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.9% QoQ during the same period.
  • The company's operating profit declined by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.1% in 3QFY19 as against 23.3% in 2QFY18.
  • Net profit for the quarter increased by 2.8% QoQ, while net profit margins declined from 16.7% in 2QFY18 to 16.5% in 3QFY19.

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 1,000.4 to Rs 1,014.0, registering a Gain of Rs 13.7 or around 1.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,913.3 (down 0.2%). Over the last one year it has moved up from 12,697.3 to 14,913.3, a gain of 2,216 points (up 17.5%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 1,014.0, the price to earnings (P/E) ratio of HCL TECH. stands at 14.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.9 times.

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