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.

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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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