MINDTREE Announces Quarterly Results (3QFY20); Net Profit Up 3.0%

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MINDTREE Announces Quarterly Results (3QFY20); Net Profit Up 3.0%
Wed, 15 Jan

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

MINDTREE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m17,87219,14319,6532.7%10.0%
Other incomeRs m-20019734876.6%
TurnoverRs m17,67219,34020,0013.4%13.2%
ExpensesRs m15,03916,66116,590-0.4%10.3%
Gross profitRs m2,8332,4823,06323.4%8.1%
DepreciationRs m410707699-1.1%70.5%
InterestRs m0138133-3.6%0.0%
Profit before taxRs m2,2231,8342,57940.6%16.0%
TaxRs m31148460925.8%95.8%
Profit after taxRs m1,9121,3501,97045.9%3.0%
Gross profit margin%15.913.015.6
Effective tax rate%14.026.423.6
Net profit margin%10.87.09.8
* 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 10.0% on a year-on-year (YoY) basis. The expenses were up by 10.3% YoY during the same period.
  • The company's operating profit increased by 8.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 15.6% in 3QFY20.
  • Depreciation charges increased by 70.5% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 274.0% YoY during the quarter.
  • Net profit for the quarter increased by 3.0% YoY. Net profit margins during the quarter declined from 10.8% in 3QFY19 to 9.8% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.4% QoQ during the same period.
  • The company's operating profit increased by 23.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 3QFY20 as against 13.0% in 2QFY19.
  • Net profit for the quarter increased by 45.9% QoQ, while net profit margins increased from 7.0% in 2QFY19 to 9.8% in 3QFY20.

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

Read Now: When the Dust Settles, This Stock Would Have Potentially Created Millionaires
MINDTREE Share Price Performance

Over the last one year,MINDTREE share price has moved up from Rs 854.9 to Rs 895.7, registering a Gain of Rs 40.8 or around 4.8%.

Meanwhile, the S&P BSE IT Index is trading at Rs 16,087.5 (down 0.5%). Over the last one year it has moved up from 14,484.8 to 16,087.5, a gain of 1,603 points (up 11.1%).

Overall, the S&P BSE SENSEX is up 16.5% over the year.

Current Valuations

At the current price of Rs 895.7, the price to earnings (P/E) ratio of MINDTREE stands at 24.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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