HCL TECHNOLOGIES Announces Quarterly Results (3QFY20); Net Profit Up 13.0%

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HCL TECHNOLOGIES Announces Quarterly Results (3QFY20); Net Profit Up 13.0%
Mon, 20 Jan

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

HCL TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m156,990175,270181,3503.5%15.5%
Other incomeRs m1,3401,0201,57053.9%17.2%
TurnoverRs m158,330176,290182,9203.8%15.5%
ExpensesRs m120,670132,680135,0601.8%11.9%
Gross profitRs m36,32042,59046,2908.7%27.5%
DepreciationRs m5,4107,4709,42026.1%74.1%
InterestRs m5501,3601,58016.2%187.3%
Profit before taxRs m31,70034,78036,8606.0%16.3%
TaxRs m5,6507,6707,420-3.3%31.3%
Profit after taxRs m26,05027,11029,4408.6%13.0%
Gross profit margin%23.124.325.5
Effective tax rate%17.822.120.1
Net profit margin%16.515.416.1
* 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 15.5% on a year-on-year (YoY) basis. The expenses were up by 11.9% YoY during the same period.
  • The company's operating profit increased by 27.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.5% in 3QFY20 as against 23.1% in 3QFY19.
  • Depreciation charges increased by 74.1% and finance costs increased by 187.3% YoY, respectively.
  • Other income increased by 17.2% YoY during the quarter.
  • Net profit for the quarter increased by 13.0% YoY. Net profit margins during the quarter declined from 16.5% in 3QFY19 to 16.1% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.8% QoQ during the same period.
  • The company's operating profit increased by 8.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.5% in 3QFY20 as against 24.3% in 2QFY19.
  • Net profit for the quarter increased by 8.6% QoQ, while net profit margins increased from 15.4% in 2QFY19 to 16.1% in 3QFY20.

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 482.3 to Rs 588.0, registering a Gain of Rs 105.8 or around 21.9%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,948.6 (down 1.0%). Over the last one year it has moved up from 14,670.9 to 15,948.6, a gain of 1,278 points (up 8.7%).

Overall, the S&P BSE SENSEX is up 14.7% over the year.

Current Valuations

At the current price of Rs 588.0, the price to earnings (P/E) ratio of HCL TECHNOLOGIES stands at 7.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.9 times.

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