HCL TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 7.0%

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HCL TECHNOLOGIES Announces Quarterly Results (2QFY20); Net Profit Up 7.0%
Fri, 1 Nov

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

HCL TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m148,600164,270175,2706.7%17.9%
Other incomeRs m2,8401,8301,020-44.3%-64.1%
TurnoverRs m151,440166,100176,2906.1%16.4%
ExpensesRs m113,970128,570132,6803.2%16.4%
Gross profitRs m34,63035,70042,59019.3%23.0%
DepreciationRs m5,1107,3507,4701.6%46.2%
InterestRs m3008701,36056.3%353.3%
Profit before taxRs m32,06029,31034,78018.7%8.5%
TaxRs m6,7207,0107,6709.4%14.1%
Profit after taxRs m25,34022,30027,11021.6%7.0%
Gross profit margin%23.321.724.3
Effective tax rate%21.023.922.1
Net profit margin%16.713.415.4
* 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 17.9% on a year-on-year (YoY) basis. The expenses were up by 16.4% YoY during the same period.
  • The company's operating profit increased by 23.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.3% in 2QFY20 as against 23.3% in 2QFY19.
  • Depreciation charges increased by 46.2% and finance costs increased by 353.3% YoY, respectively.
  • Other income declined by 64.1% YoY during the quarter.
  • Net profit for the quarter increased by 7.0% YoY. Net profit margins during the quarter declined from 16.7% in 2QFY19 to 15.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.2% QoQ during the same period.
  • The company's operating profit increased by 19.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.3% in 2QFY20 as against 21.7% in 1QFY19.
  • Net profit for the quarter increased by 21.6% QoQ, while net profit margins increased from 13.4% in 1QFY19 to 15.4% in 2QFY20.

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

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HCL TECHNOLOGIES Share Price Performance

Over the last one year,HCL TECHNOLOGIES share price has moved up from Rs 1,011.6 to Rs 1,154.2, registering a Gain of Rs 142.6 or around 14.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,325.5 (down 0.4%). Over the last one year it has moved up from 14,273.4 to 15,325.5, a gain of 1,052 points (up 7.4%).

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 1,154.2, the price to earnings (P/E) ratio of HCL TECHNOLOGIES stands at 16.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.9 times.

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