MINDTREE Announces Quarterly Results (2QFY21); Net Profit Up 87.9%

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MINDTREE Announces Quarterly Results (2QFY21); Net Profit Up 87.9%
Fri, 16 Oct

MINDTREE has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

MINDTREE Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m19,14319,08819,2600.9%0.6%
Other incomeRs m197406245-39.7%24.4%
TurnoverRs m19,34019,49419,5050.1%0.9%
ExpensesRs m16,66115,86815,357-3.2%-7.8%
Gross profitRs m2,4823,2203,90321.2%57.3%
DepreciationRs m707597569-4.7%-19.5%
InterestRs m1381311320.8%-4.3%
Profit before taxRs m1,8342,8983,44718.9%87.9%
TaxRs m48476891018.5%88.0%
Profit after taxRs m1,3502,1302,53719.1%87.9%
Gross profit margin%13.016.920.3
Effective tax rate%26.426.526.4
Net profit margin%7.010.913.0
* 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 0.6% on a year-on-year (YoY) basis. The expenses were down by 7.8% YoY during the same period.
  • The company's operating profit increased by 57.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.3% in 2QFY21 as against 13.0% in 2QFY20.
  • Depreciation charges declined by 19.5% and finance costs declined by 4.3% YoY, respectively.
  • Other income increased by 24.4% YoY during the quarter.
  • Net profit for the quarter increased by 87.9% YoY. Net profit margins during the quarter increased from 7.0% in 2QFY20 to 13.0% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.2% QoQ during the same period.
  • The company's operating profit increased by 21.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.3% in 2QFY21 as against 16.9% in 1QFY20.
  • Net profit for the quarter increased by 19.1% QoQ, while net profit margins increased from 10.9% in 1QFY20 to 13.0% in 2QFY21.

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

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MINDTREE Share Price Performance

Over the last one year, MINDTREE share price has moved up from Rs 743.3 to Rs 1,427.6, registering a Gain of Rs 684.3 or around 92.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,716.6 (down 2.7%). Over the last one year it has moved up from 15,329.5 to 21,716.6, a gain of 6,387 points (up 41.7%).

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 1,427.6, the price to earnings (P/E) ratio of MINDTREE stands at 28.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.4 times.

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