HCL TECHNOLOGIES Announces Quarterly Results (3QFY21); Net Profit Up 35.1%

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HCL TECHNOLOGIES Announces Quarterly Results (3QFY21); Net Profit Up 35.1%
Mon, 18 Jan

HCL TECHNOLOGIES has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

HCL TECHNOLOGIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m181,350185,940193,0203.8%6.4%
Other incomeRs m1,5701,9901,890-5.0%20.4%
TurnoverRs m182,920187,930194,9103.7%6.6%
ExpensesRs m135,060134,760136,7801.5%1.3%
Gross profitRs m46,29051,18056,2409.9%21.5%
DepreciationRs m9,42010,92011,8708.7%26.0%
InterestRs m1,5808001,47083.8%-7.0%
Profit before taxRs m36,86041,45044,7908.1%21.5%
TaxRs m7,4209,9905,020-49.7%-32.3%
Profit after taxRs m29,44031,46039,77026.4%35.1%
Gross profit margin%25.527.529.1
Effective tax rate%20.124.111.2
Net profit margin%16.116.720.4
* 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 6.4% on a year-on-year (YoY) basis. The expenses were up by 1.3% YoY during the same period.
  • The company's operating profit increased by 21.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.1% in 3QFY21 as against 25.5% in 3QFY20.
  • Depreciation charges increased by 26.0% and finance costs declined by 7.0% YoY, respectively.
  • Other income increased by 20.4% YoY during the quarter.
  • Net profit for the quarter increased by 35.1% YoY. Net profit margins during the quarter increased from 16.1% in 3QFY20 to 20.4% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.5% QoQ during the same period.
  • The company's operating profit increased by 9.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.1% in 3QFY21 as against 27.5% in 2QFY20.
  • Net profit for the quarter increased by 26.4% QoQ, while net profit margins increased from 16.7% in 2QFY20 to 20.4% in 3QFY21.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

HCL TECHNOLOGIES Share Price Performance

Over the last one year, HCL TECHNOLOGIES share price has moved up from Rs 598.8 to Rs 986.6, registering a Gain of Rs 387.8 or around 64.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 26,051.2 (down 1.1%). Over the last one year it has moved up from 16,117.3 to 26,051.2, a gain of 9,934 points (up 61.6%).

Overall, the S&P BSE SENSEX is up 16.0% over the year.

Current Valuations

At the current price of Rs 986.6, the price to earnings (P/E) ratio of HCL TECHNOLOGIES stands at 20.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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