INFOSYS Announces Quarterly Results (2QFY20); Net Profit Down 1.8%

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INFOSYS Announces Quarterly Results (2QFY20); Net Profit Down 1.8%
Mon, 14 Oct

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

INFOSYS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m206,090218,030226,2903.8%9.8%
Other incomeRs m7,3907,3606,260-14.9%-15.3%
TurnoverRs m213,480225,390232,5503.2%8.9%
ExpensesRs m152,520166,510169,9002.0%11.4%
Gross profitRs m53,57051,52056,3909.5%5.3%
DepreciationRs m4,6306,8107,2706.8%57.0%
InterestRs m04004205.0%0.0%
Profit before taxRs m56,33051,67054,9606.4%-2.4%
TaxRs m15,23013,65014,5906.9%-4.2%
Profit after taxRs m41,10038,02040,3706.2%-1.8%
Gross profit margin%26.023.624.9
Effective tax rate%27.026.426.5
Net profit margin%19.316.917.4
* 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 9.8% on a year-on-year (YoY) basis. The expenses were up by 11.4% YoY during the same period.
  • The company's operating profit increased by 5.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.9% in 2QFY20 as against 26.0% in 2QFY19.
  • Depreciation charges increased by 57.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 15.3% YoY during the quarter.
  • Net profit for the quarter declined by 1.8% YoY. Net profit margins during the quarter declined from 19.3% in 2QFY19 to 17.4% in 2QFY20.
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 2.0% QoQ during the same period.
  • The company's operating profit increased by 9.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.9% in 2QFY20 as against 23.6% in 1QFY19.
  • Net profit for the quarter increased by 6.2% QoQ, while net profit margins increased from 16.9% in 1QFY19 to 17.4% in 2QFY20.

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

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INFOSYS Share Price Performance

Over the last one year,INFOSYS share price has moved up from Rs 679.1 to Rs 795.0, registering a Gain of Rs 115.9 or around 17.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,283.8 (down 1.2%). Over the last one year it has moved up from 14,299.1 to 15,283.8, a gain of 985 points (up 6.9%).

Overall, the S&P BSE SENSEX is up 12.2% over the year.

Current Valuations

At the current price of Rs 795.0, the price to earnings (P/E) ratio of INFOSYS stands at 22.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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