MINDTREE Announces Quarterly Results (4QFY19); Net Profit Up 8.9%

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MINDTREE Announces Quarterly Results (4QFY19); Net Profit Up 8.9%
Thu, 18 Apr

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

MINDTREE Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m14,64017,87218,3942.9%25.6%
Other incomeRs m591-200290-50.9%
TurnoverRs m15,23117,67218,6845.7%22.7%
ExpensesRs m12,28515,03915,5913.7%26.9%
Gross profitRs m2,3552,8332,803-1.1%19.0%
DepreciationRs m3834104284.4%11.7%
InterestRs m58000.0%-100.0%
Profit before taxRs m2,5052,2232,66519.9%6.4%
TaxRs m683311681119.0%-0.3%
Profit after taxRs m1,8221,9121,9843.8%8.9%
Gross profit margin%16.115.915.2
Effective tax rate%27.314.025.6
Net profit margin%12.010.810.6
* 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 25.6% on a year-on-year (YoY) basis. The expenses were up by 26.9% YoY during the same period.
  • The company's operating profit increased by 19.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 4QFY19 as against 16.1% in 4QFY18.
  • Depreciation charges increased by 11.7% and finance costs declined by 100.0% YoY, respectively.
  • Other income declined by 50.9% YoY during the quarter.
  • Net profit for the quarter increased by 8.9% YoY. Net profit margins during the quarter declined from 12.0% in 4QFY18 to 10.6% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit declined by 1.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 4QFY19 as against 15.9% in 3QFY18.
  • Net profit for the quarter increased by 3.8% QoQ, while net profit margins declined from 10.8% in 3QFY18 to 10.6% in 4QFY19.

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

MINDTREE Share Price Performance

Over the last one year, MINDTREE share price has moved up from Rs 866.3 to Rs 976.4, registering a Gain of Rs 110.1 or around 12.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,569.8 (down 0.1%). Over the last one year it has moved up from 12,608.4 to 15,569.8, a gain of 2,961 points (up 23.5%).

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 976.4, the price to earnings (P/E) ratio of MINDTREE stands at 22.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.1 times.

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