HCL TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 8.3%

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HCL TECHNOLOGIES Announces Quarterly Results (1QFY20); Net Profit Down 8.3%
Thu, 8 Aug

HCL TECHNOLOGIES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HCL TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m138,780159,900164,2702.7%18.4%
Other incomeRs m3,2502,0001,830-8.5%-43.7%
TurnoverRs m142,030161,900166,1002.6%16.9%
ExpensesRs m106,410123,960128,5703.7%20.8%
Gross profitRs m32,37035,94035,700-0.7%10.3%
DepreciationRs m4,7605,4507,35034.9%54.4%
InterestRs m20069087026.1%335.0%
Profit before taxRs m30,66031,80029,310-7.8%-4.4%
TaxRs m6,3506,3007,01011.3%10.4%
Profit after taxRs m24,31025,50022,300-12.5%-8.3%
Gross profit margin%23.322.521.7
Effective tax rate%20.719.823.9
Net profit margin%17.115.813.4
* 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 18.4% on a year-on-year (YoY) basis. The expenses were up by 20.8% YoY during the same period.
  • The company's operating profit increased by 10.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.7% in 1QFY20 as against 23.3% in 1QFY19.
  • Depreciation charges increased by 54.4% and finance costs increased by 335.0% YoY, respectively.
  • Other income declined by 43.7% YoY during the quarter.
  • Net profit for the quarter declined by 8.3% YoY. Net profit margins during the quarter declined from 17.1% in 1QFY19 to 13.4% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit declined by 0.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.7% in 1QFY20 as against 22.5% in 4QFY19.
  • Net profit for the quarter declined by 12.5% QoQ, while net profit margins declined from 15.8% in 4QFY19 to 13.4% in 1QFY20.

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

HCL TECHNOLOGIES Share Price Performance

Over the last one year,HCL TECHNOLOGIES share price has moved up from Rs 964.9 to Rs 1,061.8, registering a Gain of Rs 96.9 or around 10.0%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,844.9 (up 1.3%). Over the last one year it has moved up from 14,566.6 to 15,844.9, a gain of 1,278 points (up 8.8%).

Overall, the S&P BSE SENSEX is down 2.4% over the year.

Current Valuations

At the current price of Rs 1,061.8, the price to earnings (P/E) ratio of HCL TECHNOLOGIES stands at 15.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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